Cryptopia Exchange Announces Bankruptcy, Liquidators Are Appointed

Cryptopia is going to close. It became known that trading on the New Zealand exchange was suspended, and liquidators were appointed to “secure the assets for the benefit of all stakeholders”.

On Tuesday, the Cryptopia website did not work due to “maintenance,” and many users were concerned that a new hack attack had occurred. Today, on May 15, Cryptopia officially confirmed the bankruptcy in a twitter post. According to the statement, the hack of Cryptopia in January 2019 "had a severe impact on the company's trade."

Trading was turned off immediately, and it is not even clear whether the clients of the exchange can withdraw their funds. David RUSCOE and Russell MORE from Grant Thornton New Zealand were appointed as liquidators of Cryptopia Limited.

"We realise Cryptopia’s customers will want to have this matter resolved as soon as possible. We will conduct a thorough investigation, working with several different stakeholders including management and shareholders, to find the solution that is in the best interests of customers and stakeholders. Given the complexities involved we expect the investigation to take months rather than weeks,"

— says David RUSCOE.

Image courtesy of The Crypto Updates