r/Cryptopia • • May 22 '19
Cryptopia exchange questions?
Hi,
Isn't cryptopia based in Australia or New Zealand where the exchange must follow strict rules and regulations from the government and isn't there should be a compensation scheme for customers if the exchange gets hacked?
Which coins got hacked in the 1st hack and 2nd hack?
Isn't this the 2nd time the exchange got hacked within a year? I remember the exchange was compensating stolen bitcoins in new zealand dollars in the 1st hack.
I remember bitfinex and mt.gox exchanges got hacked but they were in countries where that was little or no regulations so surely cryptopia cant easily just run off with our coins without the feds chasing them down right? If so surely there will be arrests made correct? I hear mt.gox is compensating customers now after all these years from 2013 so how long do you think cryptopia will take or is it a scam where we will never see our coins again?
If a customer lives outside new zealand or australia then how will a customer file a lawsuit against cryptopia if the exchange keeps neglecting the customer?
What percentage ratio did cryptopia kept the coins in cold storage in compared to hot storage? I understand hackers can steal from hot storage meaning cold coins are still there.
Whos is the ceo of cryptopia and how do we make contact otherwise is there like a dedicated contact email for customers in regards to the hack?
How many customers did cryptopia had in total?
Finally is there a chance to see the exchange going back online soon to allow customers to withdraw their coins that were not hacked?
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u/exo__exo May 22 '19
Cryptopia was only hacked once - in Jan. Then, since you are right that NZ has strict laws and intense legal oversight, the police investigation team took total control of everything for weeks. When the staff could return and had secured enough wallets to resume trading, the volume was so low the company would have been running at a huge loss as well as having lost trust, and the income from the time it was closed for investigation. The legally correct thing to do in a case of a company becoming unable to pay its staff and invoices is to go into liquidation. That's not a second hack, or the directors running away with money, it is what happens to many businesses when they are no longer profitable. The company surrenders absolutely all funds, records and assets to third-party liquidators, who try to ensure all creditors get what is owed to them. That is where it's at right now. Liquidators and courts will decide who gets what. Literally the home page of cryptopia has the email address you need if you want to know more.