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Cryptopia liquidation: Community reacts to latest news

source-logo  chepicap.com 15 May 2019 06:09, UTC

Following the latest announcement that recently hacked cryptocurrency exchange Cryptopia has gone into liquidation, the community has weighed in with their opinions. 

The New Zealand based cryptocurrency exchange which had recently reopened for business following the $20 million hack earlier this year, has had a hard time getting back on its feet and has now gone into liquidation.

The announcement on the websites front page states that "Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders."

Cryptopia was well known among cryptocurrency veterans for being the exchange that offered the widest array of obscure altcoins on the market, everything from Theresa May Coin to Lambo Coin could be found on the exchange. 

The news comes as a surprise to many who had thought the exchange was making a comeback. 

Users paid their respects to the exchange which had become a staple in cryptocurency trading during the 2017 bull run. 

Cryptopia joins the sad list of dead exchanges. In 5 years I've watched over 10 exchanges shutdown yet you still leave funds on their sites? Heres a small list: Cryptsy, mtgox, cryptorush, mintpal, cavirtex, vaultofsatoshi, quadriga, coinedup, vircurex, coinedup, cryptopia.

— Needacoin (@needacoin) May 15, 2019

ALT SEASON IS CANCELED!

cc: @Cryptopia_NZ pic.twitter.com/m8lrSdSFnR

— Wendy O (@CryptoWendyO) May 15, 2019

Crypto projects such as Bismuth which had relied on Cryptopia as an exchange to trade the token, also reached out to their community regarding the liquidation.

Dear #Bismuth users. Together, as a community, we will decide how to approach resolution of the critical Cryptopia situation. We respect you and the rights to your assets above all.

— Bismuth Developer (@bismuthdev) May 15, 2019

Customers also showed their discontent at not being able to withdraw their funds before the company announced that they will be liquidating.

Give the funds back to their holders and do whatever you want.
It's simple.

— I Am Who I Am (@z_wonka) May 15, 2019

Sell the exchange to a stronger competitor ... either way funds not stolen and still on your exchange are rightfully due to their holders

— OTC_Buyer (@Crypto_Buyer) May 15, 2019

@Cryptopia_NZ you are STEALING. Enable the exchange for the unaffected coins and stop STEALING

— Tomcat (@Tomcatbtc) May 15, 2019

You don't allow your customers to withdraw their "not hacked or unaffected by the hack funds"? If not, then you're criminals.

— Altcoin Reijo ⚡️ (@ReijoKuha) May 15, 2019

 At this point it does not look like any users will be getting their funds back from the hacked exchange, and will need to wait months to see what the final conclusion to the situation is. 

chepicap.com