Cryptopia heads into liquidation

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Sanfam
May 15, 2019

It appears that hacked exchange Cryptopia has gone into liquidation.


In a press release issued by their appointed liquidators, Grant Thornton, it revealed more on the the road ahead:


The highly publicised hack of Cryptopia’s exchange in January 2019 had a severe impact on the company’s trade. Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was in the best interests of customers, staff and other stakeholders.
The liquidators are focused on securing the assets for the benefit of all stakeholders. While this process and investigations take place, trading on the exchange is suspended.


The trading suspension and lock down came as a surprise to most, and was initially suspected as yet another possible hack. But since Cryptopia confirmed the nature of it, users are getting annoyed that they weren't even able to withdraw anything from the exchange.



For those that have been around in Crypto long enough, they would know Cryptopia as one of the OG exchanges and often the place to dabble in "shitcoins". It was the shitcoin bin and altcoin seasons have seen some decent returns from there.


But alas, all things must come to an end.

CRYPTOPIA
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Sanfam
May 15, 2019

Thanks for reading!

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