Update for Cryptopia Claimants and Stakeholders 5 March 2024

However, the problems that have been going on with the exchange have persisted for long and many users are demanding that things be solved as soon as possible. With the announcement of distribution plans the Liquidators expect to see an increase in bad actors trying to interfere in the Cryptopia claims process. We must remind account holders to remain ever vigilant in regards to their security. Despite Cryptopia being a small exchange, it is reasonably known among altcoin users as it is the only exchange where you can find some low-cap cryptocurrencies. We all know that managing a cryptocurrency exchange is no easy task, especially a small one like Cryptopia. However, the issues with the platform have been going on for a long time now as users are demanding for things to be solved.

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This Zendesk portal is separate from the claims portal and can be accessed by any account holder, provided they register and click the “Sign Up” button on the page. We issued proceedings against these third parties to prevent them from continuing to mislead or confuse account holders. In response the New Zealand Courts has granted injunctions prohibiting these parties from continuing to represent themselves using Cryptopia’s name.

Taken over by the accounting and advisory organization Grant Thornton LLP, Cryptopia’s liquidation process has been going on for a couple of years now. Despite the good news Cryptopia victims received in 2020 on their ownership over the virtual assets, the company still hasn’t refunded the entirety of the loss that occurred due to the alleged hack. These third parties might use the name “Cryptopia” in their email address, subject line, or in headings of their communications to account holders. These communications and approaches are not from the liquidators.

Next, go back to “markets” still in Cryptopia scroll down to LTC/BTC and click. FYI, Litecoinis what I use as a transfer coin since everybody takes it and it is faster to move than Bitcoin. Make sure you are in the BTC market or you may lose everything. Buy max “LTC/BTC” that is available to you from the sale of your coins.

The project initially started off as a hobby, but by 2017, the duo quit their jobs to run the platform full-time, probably thanks to the soaring Bitcoin (BTC) prices at the time. The agreement to purchase Cryptopia account holders’ cryptocurrency that is mentioned above includes a clause about the assignment of coins to that third party. In early February, many exchange users started reporting delays in withdrawals and several other problems with the platform.

Communications to account holders

• 2.) Enter my new Poloniex account site to the main page and opened “Deposits Withdrawals”.
• We recommend that any account holders who have entered into a sale and purchase or assignment agreement with any of these third parties seek independent legal advice.
• However, especially at the early stages of the crypto hype, the pitfalls of blockchain technology weren’t discovered yet, and measures against cybercrime weren’t regularly implemented.

Next, go to and open “Cryptopia Balances” top right of the main page screen by your name. Click on the little burgundy colored widget with the arrow pointing up beside LTC/BTC coin name. Go to Poloniex and copy the “Deposit” address for LTC/BTC and paste or type it in the deposit address box in Cryptopia that you still have open. Hit continue and don’t forget to approve the email notification. Crytopia is a peer-to-peer cryptocurrency exchange based in Christchurch, New Zealand, launched by Rob Dawson and Adam Clark in 2014. Just like Binance or Coinbase, Cryptopia used to be a cryptocurrency exchange platform.

Company

Since then, several other complaints have been raised exponentially. Many customers are upset and worried with the delays in withdrawal, and the problem seems to be escalating very fast. The main worry among Customers is that the exchange may rogue and steals their money. If you are one of the victims of the Cryptopia hack and want to get your digital currencies back, you simply need to follow the announcements of Grant Thornton regarding the liquidation process.

Crypto Head’s editorial principles prioritise transparency and reader trust. To maintain our free content and further support our work, we receive compensation from some companies advertising on Crypto Head. A small victory was won in February 2020, when the high court of Christchurch ruled that Cryptopia users are entitled to the funds that cryptopia withdrawal time the exchange was keeping custody of.

How to transfer your funds out of Cryptopia quickly before the Feb 9th bank closure

In order to be eligible to receive your assets back in the asset transfer stage, which hasn’t started yet, what you need to do is to fill in the claim acceptance form through the claims portal. Victims of the Cryptopia hack should follow Grant Thornton’s updates and register their claims on the provided portal. The asset transfer stage has not begun yet but is anticipated, with applications for redistribution expected to start in the first half of 2022. The current plan by Grant Thorton is to return assets to account holders by the end of 2024. You need to sign up to the claims portal below if you haven’t already and you’ll receive email updates from their team. According to Stuff, in early February, a lot of the exchange users started to report withdrawal delays among other issues with the platform.

Update for Cryptopia Claimants and Stakeholders 5 March 2024

If you are not, we hope that you take a valuable lesson from this story on the risks that come with storing your assets on exchange platforms. Currently, the liquidation process is in its second stage of claim acceptance, and the liquidator company is working on collecting enough data from the holders. On the contrary, the technology has been rock solid in keeping an immutable ledger by recording every single transaction ever made. However, especially at the early stages of the crypto hype, the pitfalls of blockchain technology weren’t discovered yet, and measures against cybercrime weren’t regularly implemented.

Either Cryptopia tries to deal with these issues right now, or we might see another exchange shutting down. Cryptopia is an independent city-state society based on the blockchain, where citizens can buy, sell, vote, and perform other essential activities using a safe, secure, and transparent system. Wallet Address Collection will be launched for those qualifying and registered Bitcoin and Dogecoin holders in the coming weeks.

Thus, protecting your virtual assets was harder than it is today. We recommend that any account holders who have entered into a sale and purchase or assignment agreement with any of these third parties seek independent legal advice. Cryptopia’s terms and conditions record that account holders may not assign their rights or obligations. The liquidators consider that the terms and conditions remain in force, and any assignment or transfer of an account holder’s entitlements is not binding or enforceable against Cryptopia. This is explained in more detail in our update on 20 February 2024.

• The platform supported a wide variety of cryptocurrencies, such as Ethereum (ETH), Litecoin (LTC), Cardano (ADA), and even  ERC-20 tokens, or lesser-known tokens such as Electroneum (ETN).
• You need to sign up to the claims portal below if you haven’t already and you’ll receive email updates from their team.
• The claims portal has been designed to verify each account holder’s account ownership and identity, and it is very important this sensitive process is protected.
• This is especially true when it comes to small exchanges like Cryptopia.
• Lastly, the only official communication from the liquidators will be sent from the no- email.

Complaints from users have been increasing and growing every day. Many users are now accusing the exchange of conspiring scam on them. Many users are fearing that the exchange may have lost credibility with its banking partners. A number of users have said they have made to wait for over a week for their withdrawals to be effected and before they get the cash in their accounts. Things seem to be getting out of hand for the exchange with its support staff packed with a backlog of tickets.

In October 2021, Grant Thornton put the second stage of the claims process in motion. The process involves reaching out to account holders to register their claims and creating a dedicated customer support portal on Zendesk to assist account holders with their asset transfer process. You can follow the updates regarding the process from Grant Thornton’s page on Cryptopia liquidation. In December 2020, Grant Thornton opened the Cryptopia claims portal to start the process of returning funds to the Cryptopia account holders. The liquidator company draws a roadmap for the claims process, consisting of claim registration, identity verification, claim acceptance, and finally, asset transfer.