The hacked platform Cryptopia continues its quest to get back investors’ money
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Answer The hacked platform Cryptopia continues its quest to get back investors’ money
The Cryptopia platform is one of the trading platforms that was affected by hacking and piracy at the beginning of this year
As a result, it lost $16 million worth of Ethereum coins and some ERC-20 tokens.
We followed on the Arab Bitcoin website the merits of the case of the Cryptopia platform from the beginning of the hack to the liquidation and declaration of bankruptcy.
This topic will serve as an update on the developments and newness of the platform regarding the return of investor funds.
First and as a reminder of what the platform went through:
Cryptopia was hacked in January 2019 and lost control of access to wallets, which made the hacking process go on for days.
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Then some funds were transferred to Binance, where the latter managed to freeze some of the assets transferred to it and return them to the management of the Cryptopia platform.
The Cryptopia platform was closed and then returned in March 2019 and continued to trade what it had until the date of the liquidation.
As for the trading volumes, they were not sufficient to meet the company’s debts and pay them to the investors’ dues.
According to a report by the exact liquidators of Grant Thornton, the hacked platform still owes $4.22 million to its users.
According to a recently leaked email from Grant Thornton, the platform’s executive management attended a meeting with some developers held on October 7.
Given the scale, complexity, and unique nature of Cryptopia’s mode, it is advisable to develop a collaborative relationship with the developer community.
An auction has also been announced for the equipment of the Cryptopia platform, which includes:
More than 800 units of laptops and desktops containing new items in unboxes and unopened close to each other in boxes, racks, servers, associated infrastructure and many other things can be viewed from Link.
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The auction will close on October 20th.
Are the sums of money that will be collected from this auction sufficient to return the users’ money?
Read also:
Binance unveils its report on the IoTeX project
Report: The rights of users of the “Cryptopia” platform exceed 2.6 Million dollars
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