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Update for Cryptopia Claimants and Stakeholders 21 June 2024
2024.02.16Aside from the platform issues, the exchange stands now accused of scamming its customers as well, but, no real evidence has been presented so far. I go into my “Balances” top right of the main screen by my name. Find the market coin that is the same as I just looked up in Poloniex. Click on the little burgundy colored widget with the arrow pointing up beside my desired coin name.
We encourage all account holders to read this report that provides an update on the overall claims process which is summarised below. Cryptopia was one of the most popular crypto exchanges back in the day before it faced a massive security breach in 2019. The platform was hacked, and a considerable amount of digital assets was stolen from the wallets of the platform users. The case of Cryptopia liquidation has been going on for a couple of years now and in this article, we will look at how you can get back your lost assets from the platform and learn what happened to the exchange. After a court ruling in 2020, Cryptopia’s users were declared entitled to their funds, with reimbursement in cryptocurrency rather than fiat currency. The liquidation process is ongoing, with Grant Thornton currently in the claim registration stage, urging affected users to file their claims to recover their assets.
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The official methods of communication from the liquidators to Cryptopia account holders are outlined at the end of this update. 2.) Enter my new Poloniex account site to the main page and opened “Deposits Withdrawals”. If you are one of the victims, we offer our condolences and advise you to keep yourself posted on the latest updates regarding the liquidation cryptopia withdrawal time of the platform.
Currently, the exchange’s official web domain, cryptopia.co.nz, redirects you to Grant Thornton’s web page, where you can keep 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.
WALLET QUESTIONS
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.
A confirmation will be sent to the email on file that you must approve. Nothing happens till you do that so make sure you have your email open and or your smart phone. After a couple minutes go to Poloniex and click on open orders and you will see that your coins are on the way. About 20 minutes later you will have successfully moved your coins to Poloniex.
How to transfer your funds out of Cryptopia quickly before the Feb 9th bank closure
As it stands, there is no indication on when users will get any reply from the support. Cryptopia, one of New Zealand‘s smallest cryptocurrency exchanges has been having problems and customers have been complaining for some time. The digital currency industry is still volatile and a place full of scammers and thieves. There are several stories of people hacked, scammed and shutdown of exchanges and stealing money from customers. As previously communicated to account holders, those having trouble with the Claims Portal, need to raise a ticket through the Cryptopia Customer Support Portal . This support 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.
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.
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.
XMR withdrawal processing time
This number was equal to 23 million NZD or 16 million USD at the time and was considered to be the biggest scam ever pulled in New Zealand. Following this collection, we intend to make an interim distribution to those qualifying and registered Bitcoin and Dogecoin holders within the next quarter.
- The official methods of communication from the liquidators to Cryptopia account holders are outlined at the end of this update.
- Must have more than .0005 of a Bitcoin in value or that coin account is bunked.
- The current plan by Grant Thorton is to return assets to account holders by the end of 2024.
- Because Cryptopia operated as a centralized exchange (CEX), it kept custody of its users’ funds and had access to all of the private keys.
- In October 2021, Grant Thornton put the second stage of the claims process in motion.
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.
- After a couple minutes go to Poloniex and click on open orders and you will see that your coins are on the way.
- 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.
- To maintain our free content and further support our work, we receive compensation from some companies advertising on Crypto Head.
- After further investigations, Cryptopia announced that 9.4% of the assets stored on its servers were stolen.
- The case of Cryptopia liquidation has been going on for a couple of years now and in this article, we will look at how you can get back your lost assets from the platform and learn what happened to the exchange.
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.
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.
Update for Cryptopia Claimants and Stakeholders 21 June 2024
While customers have been patient until now, the growing discontentment can quickly escalate to an even bigger problem as the company may soon be facing a lawsuit. Right now, there are rumors that this might be happening sooner than expected. The thing is, if this so happens, it will make matters worse for the company and as a consequence, customers will also be penalized. Don’t scream because Poloniex doesn’t support the coins you want to move. For the sake of your sanity just transfer 10 bucks worth to test that you are doing this as instructed.
The platform suffered a security breach on January 14, 2019, causing significant losses to users from over 183 countries around the globe. The Cryptopia team immediately informed the legal authorities, suspended trading activity on the platform, and took Cryptopia into maintenance mode. However, it was later found out that the hacks were still going on even after the police had been involved. Get crypto market analysis and curated news delivered right to your inbox every week.
Lastly, the only official communication from the liquidators will be sent from the no- email. We will not send any communications relating to your claim from a different address. Any communications not sent from this email are not from us and may be scams. Plus, the holders will be paid in the cryptocurrency they had in their accounts, rather than in fiat currency. When Bitcoin and altcoin prices skyrocketed in 2017, Cryptopia had also seriously expanded its services to keep up with the booming market. 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).