Update for Cryptopia Claimants and Stakeholders 5 March 2024

Since then, the number of complaints has raised exponentially. Customers are very upset with the withdrawal delays issues, and the problem is escalating fast. Customers are now afraid the exchange goes rogue and steals their coins. It seems that New Zealand-based cryptocurrency exchange, Cryptopia, one of the smallest cryptocurrency exchanges in the industry, is having issues and customers have been complaining for quite some time now. 1.) Open the “Markets” tab in Cryptopia, go into markets, scroll down to your coin click on it and go to the “sell” section when the new screen opens. Fill in the box for the total number of your “available balance” on that coin.

Have cryptopia given any update that there will be delays becausw of the increase of load/volume? No issue with deposits but withdrawing blood from a stone is easier than taking anything from cryptopia. James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency. The company has stated that they are expecting to file applications on the redistribution of funds starting from the first half of 2022. It was the company’s job to secure the assets on behalf of all the stakeholders and confirm the amount that the company owed to each one of its customers. © 2025 Grant Thornton International Ltd (GTIL) – All rights reserved.

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I keep seeing threads appear regarding the amount of time it takes to withdraw from cryptopia. Personally, i have a decred withdrawel stuck on the processing status for around a week now. We emphasize that our compensation never affects our editorial integrity. Any claims, statistics, or general information should be verified with the respective providers.

Reminder about official communications from us and protecting your information

Also, you should make your claim on the so-called claimant portal and report your loss. Currently, the process is still in the claim registration stage, as the liquidator company says they need to collect more claims to proceed forward. So, if you are one of the victims of the Cryptopia hack, we strongly recommend you join the claim registration process. Aside from the obvious risks of cryptocurrency trading, such as the high volatility in Bitcoin and altcoin prices, there are other risks you need to be aware of when keeping your assets on the blockchain. This isn’t because blockchain technology is inherently risky or vulnerable to fraud or scams. If you are unsure whether a communication is an official communication from us, please raise a helpdesk ticket in Zendesk at the above link.

Withdrawals are taking huge time, why?

We also believe that these third parties communications maybe based on the continued misuse of confidential information released by the High Court in 2020. We understand third parties have contacted account holders offering to purchase their Cryptopia entitlements in exchange for an obscure digital currency. This agreement requires the assignment or transfer of account holders Cryptopia owed holdings to that third party. After this primary distribution of cryptocurrencies that are of sufficient value, there may be an additional top-up distribution to account holders, allowing them to receive up to 100% of their holdings.

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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 the exchange was keeping custody of.

If this supplementary distribution takes place it should occur before the middle of 2025. The cryptocurrency industry is still a “Wild West” and a place where thieves and scammers thrive. There are hundreds of stories of people being scammed, hacked and even the shutdown of exchanges stealing customers funds. 5.) Next, below in the bottom box put in your pin if asked and click continue.

• In early February, many exchange users started reporting delays in withdrawals and several other problems with the platform.
• Account holders should be cautious about providing their Cryptopia account information to third parties.
• We all know that managing a cryptocurrency exchange is no easy task, especially a small one like Cryptopia.

For a detailed list of our advertising partners and more on our monetization strategies, refer to our full advertiser disclosure. Cryptopia Hack was one of the most prominent hacks in cryptocurrency history, during which funds were stolen from around 800 thousand people around the world. Because Cryptopia operated as a centralized exchange (CEX), it kept custody of its users’ funds and had access to all of the private keys. This created a dispute in terms of the ownership of the assets after the hack.

Your coin will not disappear, they will go back into your balances and you will see it as a “Bitcoin” balance. Note in Cryptopia if you do not sell all the coins any small balance is lost. Must have more than .0005 of a Bitcoin in value or that coin account is bunked.

If you are unsure whether a communication is an official communication from us, please raise a helpdesk ticket in Zendesk. Our Website may link to external sites or content not controlled by us. Such links don’t imply our endorsement, and we aren’t liable for the content, products, or services of these third-party entities. Since then, the investors have been in a state of limbo and the assets have remained frozen for a couple of years. Cryptopia continued saying they were going to restore all funds within a few months. After further investigations, Cryptopia announced that 9.4% of the assets stored on its servers were stolen.

This drew a lot of attention from coin enthusiasts around the world and turned Cryptopia into a trending platform. Account holders should be cautious about providing their Cryptopia account information to third parties. 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.

Cryptocurrency trading is fraught with risks, including the high volatility of assets and potential security breaches on blockchain platforms. As a result of the withdraw issues, the exchange is being accused of scamming its customers. No tangible evidence scamming or stealing funds have been presented. Despite being a small exchange, Cryptopia is well known among users of altcoin as a place where you can get low-cap cryptocurrencies. This is especially true when it comes to small exchanges like Cryptopia.

• The digital currency industry is still volatile and a place full of scammers and thieves.
• There are hundreds of stories of people being scammed, hacked and even the shutdown of exchanges stealing customers funds.
• 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.
• The asset transfer stage has not begun yet but is anticipated, with applications for redistribution expected to start in the first half of 2022.

Currently, the exchange’s official web domain, cryptopia.co.nz, redirects you to Grant Thornton’s web page, where you can keep cryptopia withdrawal time yourself updated on the latest developments. On May 15th, 2019, the Cryptopia team announced that the company was going into liquidation, which meant it was going to sell all the assets to dissolve and finally close the company. The liquidation process was going to be carried out by Grant Thornton New Zealand. After the hack, Cryptopia announced that they would give a rebate to users who lost their funds, but the team didn’t give further explanation as to how. If you are into cryptocurrency trading, you must have learned by now that it’s a risky business – either by doing your research or by having your fingers burned and learning it the hard way.

The complaints are growing in numbers by the day and users are accusing the company of scam while others fear that the company no longer has credible banking partners. Some users have reported that they had to wait for more than one week to see their withdrawals hit their accounts. Unfortunately, this is not giving a bad name to the cryptocurrency exchange which is dipping closer to the abyss. The exchange support has been packed with an ever-increasing backlog of tickets and things seem to be getting worse and worse. Right now, there is no prediction for users to get an answer from the exchange support. Last week the Liquidators released the eleventh statutory report in the liquidation of Cryptopia.

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.

1.) FYI, I opened an US exchange account expecting this event. Seems to be a very user friendly exchange and it is in the USA. Have no communication with these people nor do I gain a penny from this information. Just hate to see all you go through the frustrations I have go through. Nobody seems to know much of anything when it comes to Buy, Sell or Transferring.

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.