chepicap.com
Grant Thornton have released the first liquidators report on the state of affairs related to hacked and now defunct cryptocurrency exchange Cryptopia.
Grant Thornton, who are the assigned liquidators in the Cryptopia case, have released their first report regarding the liquidation process.
Looking at the report, it is still early days and Grant Thornton are currently still auditing Cryptopia. However some facts have come out in the report including secured creditors in the case. Secured creditors include Coca-Cola and Dell, who will be looking to receive compensation first. Among them include preferential creditors in the form of Cryptopia employees who will claim roughy $320,000 in the case.
Things don't look good for retail investors, with 69 unsecured creditors' claims totalling $2.439m, with that number expected to increase.
The database with customer holdings is still being audited, with the report stating that "we cannot confirm the value of Customer holdings."
The liquidators also state that the timeline for the liquidation cannot yet be determined, saying "It is not practicable to estimate the date of the completion of the liquidation at this stage."
