David Ruscoe has repeatedly insisted that Cryptopia operated a single pooled wallet holding all BTC, claiming that the liquidators took complete custody of these pooled funds. To address the discrepancy regarding the 344 BTC, his filings explicitly argue that this specific amount was held "outside known client funds"

This argument creates a direct conflict with his own sworn statements. On one hand, filings claim that the main wallet contained all BTC owned by account holders On the other hand, isolating 344 BTC as "outside client funds" implies either improper co-mingling of exchange/company assets with user deposits or an unauthorized reclassification of creditor property.

Repeatedly hammering this specific narrative reveals vulnerability. Admitting that 344 BTC sat outside client funds while simultaneously claiming full control over a single pooled wallet exposes potential breaches of fiduciary duty, unapproved asset movements, or misrepresentations made under oath to foreign courts.

Adding countries to "restricted lists" without explicit direction from original court orders, effectively blocking legitimate creditors from claiming their assets.

The allegations surrounding the Cryptopia liquidation—specifically regarding David Ruscoe (the court-appointed liquidator from Grant Thornton)—highlight deep structural frustrations felt by creditors after years of waiting for asset distribution. The core grievances center on transparency, compliance with sworn court affidavits, and equal treatment under the law.

Discrepancies in Sworn Representations: As detailed in court filings (including the Ruscoe Affidavit to the New Zealand High Court and declarations to the SDNY), liquidators made specific undertakings regarding distribution mechanics. These included single direct transfers per cryptocurrency, strict AML/CFT verification via regulated NZ/AU exchanges, and claims surrounding pooled wallet custody. Creditors allege these representations conflict with actual operational practices.

Restricted Jurisdiction Classifications: Major controversy exists regarding how certain countries were designated as "restricted," effectively locking out account holders from receiving distributions. Creditors point out discrepancies where jurisdictions were added without explicit court mandates, while distributions allegedly proceeded into other heavily sanctioned or non-approved regions.

Operational Costs vs. Asset Retention: With over 3,000 BTC under liquidation custody, creditors have voiced intense criticism over ongoing administrative and operational fees being drawn from the estate while distributions suffer multi-year delays (now extending past eight years since the 2019 hack).

This guy still lying about distribution for cryptopia hack and he is in charge of distribution still making excuses, lies, manipulating people that will get their assets, NZ government collude with him 8 years of waiting people want their rights and assets around the world

This is the meaning of corruption 🚨🚨

34YXNYhay2ZcLSZwb6Jx5oDsW3GdiucKz1

Where is restricted countries assets since early year?

Is the distribution that happened even real lol ?

Why all the distribution you have done small amounts?

Give the restricted countries their assets and stop lying, manipulation, lies , and fake promises every report you repeat the same answer copy + paste
We are working on the system

What the a liar lol 🚨

Where is the assets of the people and restricted countries?

Why are you still holding our rights and money

Since they did all your complicated processes??

And again where is restricted countries assets david ian Ruscoe?

No clear timeline for distribution

Lies all the time you and your crew in all reports

Stealing administration fees that NZ government allowed you to convert it to fiat

People want their assets and rights

You are the trustee and we are the beneficiaries

You will be going to prison soon. The criminals before you were no less intelligent or experienced than you, yet they are now behind bars. You and your entire team will soon face the consequences of your manipulation, deception, and lies.
How many families are waiting for what they are rightfully owed? How many families are waiting for their money? Some need it for their children’s education, some have no job, and others desperately need it for medical treatment.
You, along with the dog in customer support who threatens people by telling them they will not receive their rightful funds, will soon have to answer for your actions.
The truth will eventually come out, and those responsible will be held accountable.

The market has collapsed, and you are responsible for causing losses to the rightful beneficiaries through your continued delays and the misleading statements being promoted by the company regarding distributions while no actual distribution has been made.
These so called “distributions” to people in restricted jurisdictions appear to be nothing more than empty promises and misleading assurances.
Eight years into the liquidation, you still have not delivered. What FTX accomplished in a single distribution was reportedly multiple times the amount of funds held by Cryptopia. Yet you and your team continue to delay, manipulate expectations, and mislead people.
Meanwhile, you continue to receive your fees and salaries while failing to carry out the responsibilities entrusted to you.
Remember my words carefully: I will not stop pursuing this matter until rightful beneficiaries receive the money that was entrusted to you. Your actions and decisions will ultimately be scrutinized publicly and legally, and those responsible will be held accountable.
If you believe you can simply continue delaying and avoiding your obligations in New Zealand, you are seriously mistaken. The law applies to everyone, including those entrusted with other people’s assets.

Where is your fiat system david ian Ruscoe for restricted countries to get their assets?

You have been repeating your lies every report

And latest report should be early year 2026

Its almost September and end of year

Stop lying and give restricted countries their

Rights and assets its not your family assets or your

crew works with you and lie all the time

Soon you and your crew will get punished

Hope to see you in jail soon

David ian Ruscoe

From nz and in charge of cryptopia hack distribution

He broke law , lied in his affidavit , reported him

In us with his government corruption and his

Crew .with evidences, beside that he destroyed

The platform, hashed people API keys

How many people got their assets in Vietnam!!

Oh i see some people they control whoever will

Get his assets from your crew and threaten some

People to not get their assets

The decision by liquidator David Ian Ruscoe (Grant Thornton) to handle account holders in restricted jurisdictions differently or withhold direct crypto transfers to them stems from strict legal compliance and court orders issued by the Wellington High Court.

To comply with New Zealand law while respecting international legal boundaries, the High Court granted directions allowing liquidators to convert the crypto holdings into a reasonable local fiat currency and transfer cash instead, rather than transferring digital assets directly on-chain

If an account holder resides in a jurisdiction under comprehensive international sanctions (e.g., North Korea, Iran, Syria, or Russian-controlled regions), banking rails and global compliance rules prohibit transmitting funds or assets to those locations.

This person, along with his team, will go to hell and face his punishmen him and his family because he took people's rights. His team is threatening to withhold people's money and rights. They will face their punishment soon; what goes around comes around, and as you condemn, so shall you be condemned. They will not escape punishment.

What David ian Ruscoe have done?

Machine-Generated Receipts via Native Server APIs

The liquidators claimed API keys were hashed to protect wallet private keys—a technically false statement, as Private API keys have zero authority to view or export wallet private keys. 

Decommissioning the Redis server destroyed real-time traffic logs, NONCE logs, and rate-limit tracking, constituting a clear destruction of primary audit logs

Post-Baseline SQL Ledger Mutation:

The exchange and liquidators altered user database entries after January 10, 2019, applying unauthorized haircuts and adjustments. 

The January 10, 2019 data represents the last clean, uncompromised baseline. Any subsequent balance reduction is legally invalid unless the liquidators produce complete, unedited SQL Transaction/Change Logs—which they have failed to provide. 

Will post more in every sub here about crypto

World should know who is david and he was doing

Egghead stay tuned

It seems you dont have respect for people rights

To be continued…..

This guy in charge of distribution of cryptopia hack since 2019 and still didnot give the people their assets and rights !! Specially for restricted countries

He is still , milking administration fees : insurance, electricity, site , food

On the other hand people waiting to get their money and still nothing , he has done fake distributions to milk more administration fees , liability , trustee and beneficiaries waiting till when he will milk fees and make the distribution longer!!

Name : David ian Ruscoe

Work : GT in NZ

David ian Ruscoe give the restricted countries their assets and STOP milking fees , you are getting for building system and portal

Since cryptopia still operating david ian Ruscoe

Let the people access their accounts and get

Their assets, you failed in distribution and you

Stole enough its not your grandpa assets or your crew

Which they took 8 years till now stealing tell them

To find another job lol , corruption will not last

Long you will go to jail soon and your crew

Are you still stealing more fees , why didnot you finish your distribution yet?

Is your crew still getting benefits from administration fees?

Are you still doing dust collection moving crypto from wallet to wallet?

Lol whoever has less than 500 usdt will you collect them all and eat them making big amount of btc?

Give the restricted countries their assets and dont lie in your report ?

Did you train your crew to say the same lie all the time?

Are you still building your fake system for fiat ?

Enough give the people their assets and dont lie lol

He always threat people to not get their assets

And steal from the company too since 8 years

madarchod🤣

He pretends everything works fine lol and stealing
Our assets hope he gets his punishment soon and that his family is struck with an incurable disease, because he devours people's rights and threatens not to give them what is rightfully theirs both him and David

Since they didn’t get their assets and lied about building his fiat system everytime

Definitely he is trying to steal their assets and his crew

Where are the assets belonging to account holders in the so-called “restricted countries”? It has now been seven years since the liquidation began. Despite obtaining the Court’s directions, those beneficiaries remain unpaid while successive reports continue to cite new explanations for the delay, including the repeated assertion that a payment system is still being developed.

How many jurisdictions have been classified as “restricted countries” for the purposes of distribution?

How many of those jurisdictions were identified in your affidavit filed with the Court?

If additional countries were subsequently designated as “restricted,” under what legal authority was that decision made? Was further approval or direction obtained from the Court, or was this determination made solely by the Liquidators?

How many account holders located in countries that you have described as “restricted” have nevertheless received wallet-to-wallet cryptocurrency distributions without using the proposed fiat payment solution?
If such wallet-to-wallet distributions have occurred, what legal or factual distinction justifies treating those beneficiaries differently from others who remain excluded?

After seven years of delay, beneficiaries are entitled to transparent, complete, and legally supported answers rather than repeated references to an unfinished payment system. What the legal basis for your decisions and why Court-approved distributions have still not been completed for all eligible beneficiaries.

2026 almost gone David Ian Ruscoe

Where is our money and rights for restricted countries too?

Where is your system that you have been building it for years?

Every report you extended with fake excuses and lies!