Grant Thornton explains why customers of hacked Cryptopia cryptocurrency exchange did not receive payments yet

Grant Thornton explains why customers of hacked Cryptopia cryptocurrency exchange did not receive payments yet

Grant Thornton explains why customers of hacked Cryptopia cryptocurrency exchange did not receive payments yet

The liquidator of the New Zealand cryptocurrency exchange platform Cryptopia, Grant Thornton, explained why users who lost their funds back in January have not yet begun to receive compensation payments. The company published a report in which they spoke about the problems in this process and the work done to overcome them.

Representatives of the company said that they were able to get a database with information about the assets of hundreds of thousands of customers from the US data center. Now these data are compared with the remnants of the purses of the exchange.

“A hacker-attacked exchange cannot simply start work again. We are forced to comply with the requirements for liquidators in New Zealand and internationally that are relevant, among other things, to counter money laundering and terrorist financing,” Grant Thornton explained.

Now the company, together with lawyers, is trying to resolve the issue of returning funds to users. Cryptopia was declared bankrupt in the United States, but the international investigation remains in the embryonic stage, liquidator representatives said.

Losses from the January hacking of the New Zealand Stock Exchange amounted to approximately $ 16 million. According to Elementus, at some point the company lost access to its own wallets, so it did not take any action for several days after the start of the hacker attack.

 

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About Shawn Morrison 204 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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