Grant Thornton unveils some details of action plan for Cryptopia platform
On May 27, the official liquidator of NZ Cryptopia exchange – Grant Thornton – has unveiled the action plan for refunding of the platform's users that lost their money.
According to a notice posted on the firm’s official website, it will take at least several months to restore information and determine how to transfer funds to creditors. The company awaits the official approval of the liquidation process from the US legal authorities. Specifically, this is a required measure since the exchange's data is kept on the services in Arizona. This move must be made to save the data containing information about crypto assets kept on users' accounts as well as personal data otherwise the recovery of the funds become impossible.
"The interim order preserves the Cryptopia data, which includes a SQL database containing all account holders’ individual holdings of cryptocurrencies and the account holder contact details. Without this information, reconciling individual holdings with the currencies held by Cryptopia will be impossible," stated Grant Thornton.
For reference, New Zealand cryptocurrency exchange reported a hack attack that entailed huge losses in January. According to some assessments, the total loss could be some $16 million. Later, the platform attempted to restore operations in cooperation with law enforcement units but announced the liquidation process in May.
28 May, 2019 11:25
← CCID China posts its new crypto ranking
A research institution in China that is directly under the China Ministry of Industry and Information Technology, The China Electronic Information Industry Development (CCID) has released its latest crypto project ranking. EOS and Tron top the list out of the 35 crypto project.
27 May, 2019 16:01
Yahoo Japan to roll out TaoTao cryptocurrency exchange in late May →
The TaoTao virtual currency exchange (formerly BitARG), a subsidiary of the Yahoo Group in Japan, announced that it will begin to provide cryptocurrency trading services on May 30. The first information about Taotao appeared in March 2018, when the Yahoo! Japan expressed its plans to acquire shares of the exchange. The cost of 40% stake was $19 million.
Write a comment