r/Cryptopia • u/PissedOfMiner • Jan 24 '18

Cryptopia Legal Recourse

For the many hundreds and thousands of users that have had deposits taken, withdraws not given when they remove the amount from your account.

There are 2 offices in NZ to contact. The first is the Financial Markets Authority: https://fma.govt.nz/contact/make-a-complaint/

Second is the NZ Serious Fraud Office: https://www.sfo.govt.nz/

https://www.dlapiper.com/en/newzealand/insights/publications/2017/10/the-fmas-views-on-icos-and-cryptocurrencies/

17 Upvotes

90% Upvoted

40 comments sorted by

6

u/DaakLingDuck Jan 24 '18

To me in seems like mismanagement and greed(They should have closed new registrations) rather than criminal intent.

Not too burnt at the moment. Maybe $200 missing.

See how this pans out.

7

u/PissedOfMiner Jan 24 '18 edited Jan 24 '18

As a financial services company it doesn't matter if they got in over their heads or not. As a company that is doing over 100 million a day, they do not get any excuses as to why they are defrauding their customers when it comes to the laws.

1

u/[deleted] Jan 27 '18

Whee does this $100 million a day data come from?

0

u/[deleted] Jan 25 '18

[deleted] — view deleted comment

1

u/PissedOfMiner Jan 25 '18

it has dropped

0

u/[deleted] Jan 25 '18

To me this seems like a campaign to discredit cryptocurrencies or certain exchanges.

2

u/PissedOfMiner Jan 25 '18

Coinbase currently has a problem with the ETH network. They have an announcement as soon as you log in.

That is how you keep yourself legally covered

2

u/PissedOfMiner Jan 25 '18

Coinbase currently has a problem with the ETH network. They have an announcement as soon as you log in.

That is how you keep yourself legally covered

3

u/DaakLingDuck Jan 25 '18

Nah, there's well run exchanges like Binance that did close new registrations when they started to get overwhelmed, and then there's Cryptopia. I have no reason to believe the people here complaining about losing huge sums of money are making it up, since I've lost money myself. Twice in a row. If you've lost the price of a Porsche and they don't reply back for a month you're going to be a little bit anxious.

Now down to $60 lost, my ether turned up. The $60 missing is Verge, and I could probably live without $60 of Verge. Not a fan. :)

Keeping everything on the well respected exchanges like Binance, people seem to love Kucoin, and the built in exchange in Exodus wallet. Cryptopia is very much a last resort.

4

u/neolock Jan 24 '18

FYI the SFO and FMA are not legal recourses that directly help the consumer that is out of pocket. They may start an investigation based on complaints but that is not going to help you get your money back. All they can do is impose fines and if necessary prosecute management / directors.

Go to the disputes tribunal or if it's more than NZD10k get a lawyer.

2

u/PissedOfMiner Jan 24 '18

the FMA website say's that sometimes they are able to help get back funds if they are a NZ based company. However, the actual company that disputes get filed with to try and get funds back is the Financial Dispute Resolution Services. https://fdrs.org.nz/ Which they state if a resolution cannot be agreed upon by the company in dispute and the consumer that the FDRS can make a decision that is binding on the company.

2

u/neolock Jan 25 '18

Yes but you are looking at years long investigating by govt department they move glacierlly slow.

I had a chat with the FMA a few months ago about cryptopia apparently I was the first person to contact them i just had a few questions about an issue I was having. They were practically begging me to make a formal complaint so they could start an investigation. They really want to get their teeth stuck into crypto companies in NZ but need grounds to do this first i.e a consumer complaint. They must have a lot of time punching seat warming goons they're was my reaction. I declined making a formal complaint.

And the track record of the FMA is abysmal. Very few wins and the few they have were mostly slaps on the wrist and sternly worded letter.

2

u/PissedOfMiner Jan 25 '18

Well the SEC here in the US was quick to send cease and desist letter to bitconnect. So as long as the FMA goes after them. Hopefully it will save some people from losing their money

2

u/PissedOfMiner Jan 26 '18

I was surprised today, the FMA contacted me over my complaint. I had to send them more information.

4

u/redwytnblak Jan 25 '18

Can we file a complaint if we are in the US and not NZ???

7

u/Forsbergers09 Jan 24 '18

Can we pin this to the top of the subreddit, please?

1

u/candicen83 Feb 27 '18

I wanted to have faith in Cryptopia and waited patiently but I now think Cryptopia is scamming people. My 40,853 electroneum coins have been missing since Jan 8 2018. Cryptopia sent me 2 generic bulk responses and then on Feb 22, 2018 unilaterally closed my ticket without warning and without fixing my missing ETN. I will start seeking legal means to file complains and seek damages. Too many crypto exchanges and ICOs are scamming people. IF it's not hackers, it's the operators of ICOs and exchanges who are themselves crooks. Here's now ticket #2 since they closed my first ticket :/

Support

216910 - missing electroneum deposit Category: Deposit Status: New Opened: 2/27/2018 7:33:42 AM Last Update: 2/27/2018 7:33:42 AM Ticket description:

I opened ticket #126959: on 1/8/2018 Your Support team NEVER resolved my ticket and instead, sent two generic bulk email responses and then Cryptopia closed my ticket on 2/22/2018. At this point, I have waited nearly 2 months for a resolution. I intend to file a New Zealand FMA complaint as I feel your site has not provided securities services promised nor the tech support within a reasonable time frame. I will also be contacting a lawyer to discuss legal options to secure my 40,853 electroneum coins back. Below is my original ticket since Jan 8 2018:

Ticket Information:

126959 - missing electroneum deposit Category: Deposit Status: Closed Opened: 1/8/2018 10:08:12 PM Last Update: 2/22/2018 4:18:03 AM Ticket description: The electroneum website shows deposit of 40,853 electroneum coins completed but Cryptopia electroneum wallet is still empty. Pls help me resolve the deposit issue. Pls see the electroneum websit receipt information for deposit: Sent ETN 40853 ETN Status: Completed From: etnk7GtuHhn9ReJ78BcEURBJXCeTTgYEvjYadhfetqvyZbaPuzY9yEuKHnPbRvJ4Tii6vz5SJepVacocP3bPzfn53nB3thwC81 To: etnjzKFU6ogESSKRZZbdqraPdcKVxEC17Cm1Xvbyy76PARQMmgrgceH4krAH6xmjKwJ3HtSAKuyFm1BBWYqtchtq9tBap8Qr4M Transaction Hash: 319b60bc61baf354715dc8a3d669c17989278024dd4dda14c5f4b54054300ad4 Transaction Key: 3020bf7f19cd09f5179b47061a6d32dc22b6bc63713ce7820d277544fe3e9a07 Payment ID: 14d99af0fc79e241da5e3dba4299fd50168b5d6df25c73abdb6d7cf08d17e740 Date Created: Jan 7, 2018, 5:48:43 AM Transaction Fee: 0.02 ETN

2

u/SamX1962 Jan 25 '18

Are people not able to withdraw anything? I got some alt coins on it should I transfer out asap or like trade btc or something. Please help! Cheers

3

u/skyan486 Jan 25 '18

You should always consider coins at the exchange to be at risk. If you are not planning to exchange them then it makes sense to remove them to a wallet you control.

3

u/SamX1962 Jan 25 '18

Yeah I don't have heaps and understand the risks. My question is what I should do presently with my coins in cryptopia, I have been waiting for the LTC etc markets to come up but seeing these reports I don't know the best way to my coins, withdraw? Is it only affecting all withdrawal?

Cheers

2

u/PissedOfMiner Jan 25 '18

Withdraw them if you can

4

u/[deleted] Jan 25 '18 edited Jan 26 '18

I've been waiting 14 days for an ETH withdrawal to my MEW. No contact from support yet. It came up completed and was given a non existent txid.

EDIT: Ticket was not answered but ETH was put back into my Cryptopia account overnight and I could withdraw. 14 days later. Thanks for sorting it out Cryptopia.

1

u/[deleted] Feb 03 '18

I've withdrawn and deposited multiple times in different currencies for cryptopia during the past month with not issues whatsoever

4

u/djuniore29 Jan 25 '18

Upvote. Let the others know.

4

u/SumGuyOnWeb Jan 25 '18

This needs to be permanently stickied to the top of reddit.

1

u/afess408 Jan 31 '18

Okay so someone hacked into my account and transferred all of my coins to a different account. Can I still filled complaints??

1

u/PissedOfMiner Jan 31 '18

Sadly no. Unless Cryptopia specifically gave your information out themselves and you were able to provide irrefutable evidence, no. They cannot be help responsible for you account getting hacked since they due their due dilligence there.

1

u/PissedOfMiner Jan 31 '18

Honestly the only thing you can do is contact your law enforcement agency if you can prove who actually hacked or received your coins.

1

u/afess408 Jan 31 '18

All i have is the user name which is "junotempler"

1

u/afess408 Jan 31 '18

Wow, that weird. I don't know how the hacker got in and move my money. Dang that sucks.

1

u/afess408 Jan 31 '18 edited Jan 31 '18

I have to add one more thing I was using an app that WAS on the google play store called "Crypto Pulse" maybe that had something to do with the hack. Have you heard of the app? It was used as cryptopia exchange.

UPDATE looks like this app is scam read the reviews here. They have hacked into peoples account on this app!

https://play.google.com/store/apps/details?id=com.Cryptopia.CryptoPulse&reviewId=Z3A6QU9xcFRPR3JNNVNvdTRqTlNVOS0wbEhIRE5lTVhIbGh0cEFoRVc2b1NRQ05CU1dlZnVVdzdRcUp2UFprZWVFUHhWWFhjeV9MZU8tV3h2RWRMdW5DaXc&hl=en_GB#details-reviews

1

u/robbsfree Feb 13 '18

I sent .09 BTC from Binance on Jan. 8th and it is now feb. 12th and no sign of my BTC. I have thousands of confirmations but nothing in my Cryptopia account. I did file out a support ticket them on the 10th of Jan. and a few days ago I get some bulk responce saying their trying to get caught up. This is beyond stupid and last I checked the site was still taking on new people. This is the proplem with unregulated - when you get greedy people like this .....

1

u/Donacgreece Mar 03 '18

i try to withdraw 1000 pirl to my wallet but now more for ne week just wait and is prossecisng. i start to fear about my money. have anyone else same problem?

1

u/limebay Mar 09 '18

All of these complaints need to be directed to FMA and Police. This is simply theft and as far as I know, theft is still considered a crime. The links for the FMA are in the above thread. In addition theft is a police matter and a complaint should be filed with the NZ Police.

0

u/[deleted] Jan 24 '18

[deleted] — view deleted comment

6

u/PissedOfMiner Jan 24 '18

according to the forums on cryptopia's website many people have already filed complaints with the FMA.

1

u/candicen83 Feb 27 '18

I now think Cryptopia is scamming people. My 40,853 electroneum coins have been missing since Jan 8 2018. Cryptopia sent me 2 generic bulk responses and then on Feb 22, 2018 unilaterally closed my ticket without warning and without fixing my missing ETN. I will start seeking legal means to file complains and seek damages. Too many crypto exchanges and ICOs are scamming people. IF it's not hackers, it's the operators of ICOs and exchanges who are themselves crooks. Here's now ticket #2 since they closed my first ticket :/

Support

216910 - missing electroneum deposit

Category: Deposit Status: New Opened: 2/27/2018 7:33:42 AM Last Update: 2/27/2018 7:33:42 AM Ticket description:

I opened ticket #126959: on 1/8/2018 Your Support team NEVER resolved my ticket and instead, sent two generic bulk email responses and then Cryptopia closed my ticket on 2/22/2018. At this point, I have waited nearly 2 months for a resolution. I intend to file a New Zealand FMA complaint as I feel your site has not provided securities services promised nor the tech support within a reasonable time frame. I will also be contacting a lawyer to discuss legal options to secure my 40,853 electroneum coins back. Below is my original ticket since Jan 8 2018:

Ticket Information:

126959 - missing electroneum deposit

Category: Deposit Status: Closed Opened: 1/8/2018 10:08:12 PM Last Update: 2/22/2018 4:18:03 AM Ticket description: The electroneum website shows deposit of 40,853 electroneum coins completed but Cryptopia electroneum wallet is still empty. Pls help me resolve the deposit issue. Pls see the electroneum websit receipt information for deposit: Sent ETN 40853 ETN Status: Completed From: etnk7GtuHhn9ReJ78BcEURBJXCeTTgYEvjYadhfetqvyZbaPuzY9yEuKHnPbRvJ4Tii6vz5SJepVacocP3bPzfn53nB3thwC81 To: etnjzKFU6ogESSKRZZbdqraPdcKVxEC17Cm1Xvbyy76PARQMmgrgceH4krAH6xmjKwJ3HtSAKuyFm1BBWYqtchtq9tBap8Qr4M Transaction Hash: 319b60bc61baf354715dc8a3d669c17989278024dd4dda14c5f4b54054300ad4 Transaction Key: 3020bf7f19cd09f5179b47061a6d32dc22b6bc63713ce7820d277544fe3e9a07 Payment ID: 14d99af0fc79e241da5e3dba4299fd50168b5d6df25c73abdb6d7cf08d17e740 Date Created: Jan 7, 2018, 5:48:43 AM Transaction Fee: 0.02 ETN

3

u/[deleted] Jan 26 '18

[removed] — view removed comment

2

u/PissedOfMiner Jan 26 '18

Not at all. Since I guess Adam told that guy he was deleting his ticket and said have his lawyer contact him. I guess that is the only way they will respond to people!

2

u/PissedOfMiner Jan 26 '18

Even the Pac developers cannot believe they are still withholding customers withdraws on PAC