Cryptopia Rescue, a quarrel over the Cryptopia funds
Cryptopia Rescue, a quarrel over the Cryptopia funds
Crypto

Cryptopia Rescue, a quarrel over the Cryptopia funds

By Alfredo de Candia - 13 Nov 2020

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A quarrel seems to have started between the bankruptcy liquidator Grant Thornton and Cryptopia Rescue, a scheme that gathers some of the victims affected by the exchange’s failure. 

This is discussed in the latest report on Cryptopia’s funds from Grant Thornton, where we can read about the development of the issue compared to the many creditors of the now-bankrupt company:

We are talking about an attack that took place in early January 2019, so almost 2 years ago. This hack resulted in a heavy loss for the exchange – several million dollars – which forced Cryptopia to close its doors and start liquidation proceedings, which after some time seems to be nearing. 

In the report we can read that there will be 3 distinct phases starting next month and these are:

  • Claims registration
  • Identity verification
  • Asset Transfer

In fact, the first procedure will consist in making the claim of the file that will lead later to the identification of the applicant, because as we can remember some data have been stolen and therefore it is necessary to identify with extreme care the subjects that will do the relative procedure, since it would be very simple to provide stolen documents.

Cryptopia Rescue

There is also a program called “Cryptopia Rescue” which will represent all users who have suffered a loss from this attack. Bitcoin.com has joined the team to facilitate the task of redistributing tokens.

The initiative is not viewed favourably by the liquidator, who therefore advises against joining it.

Finally, it is reiterated that any other information that does not come from official sources is to be considered unreliable. It is a clear reference to the relevant Cryptopia Rescue programme, and to await further instructions from official channels.

Surely what happened to the exchange is very serious, but this gives us the chance to point out that it is never wise to leave funds on centralized exchanges, because even in case of liquidation, the times are really long and it is not certain that the entire amount deposited will be refunded.

Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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