15/05/19 06:00 UTC-4

The Cryptopia exchange goes out of business, suspends trading and appoints liquidators

Cryptopia exchange goes out of the crypto business
Cryptopia exchange goes out of the crypto business

Cryptopia cryptocurrency exchange, which lost $ 23 million in January due to hacking, on May 15 stated in a press release that it was leaving the crypto-business and appointing liquidators David Ruscoe and Russell Moore from Grant Thornton.


Hacking exchange

By the beginning of 2019, the exchange was unlucky several times in a row, when digital assets of its customers were stolen from hot wallets. The cryptopia closed due to hacking in mid-January. After a police investigation that took months, Cryptopia finally reopened in mid-April, but the work did not seem to be fully resumed. Later, the exchange resumed trading, but the situation has changed for the worse.

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Today, Cryptopia closes the exchange, while many users still have not withdrawn funds.

On Tuesday, the Cryptopia website disconnected due to "maintenance," but, as some users had already expected, the exchange was not about to resume. On Wednesday, a statement on Cryptopia Twitter said that David Ruscoe and Russell Moore from Grant Thornton were appointed liquidators of Cryptopia, and that the trade was suspended.

The statement says: "The widely publicized hacking of the Cryptopia exchange in January 2019 had a major impact on the company's trade. Despite the efforts of management to reduce costs and return business to profitability, it was decided that the appointment of liquidators is in the best interests of customers, staff and other interested parties."

Cryptopia appoints David Ruscoe and Russell Moore liquidators and announces the closure of tenders. It is very likely that if you still have funds on the exchange, you will no longer be able to trade them on Cryptopia. Although the statement says that tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
on the stock-exchange is suspended only for the time of the investigation, which leaves room for the resumption of trading after their completion.

Editor: Yuliya Soroka

See also: "Crystal Blockchain updated testimony regarding the recent hack of the Binance exchange"

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Hypes, funds, fiat money