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Cryptopia is bankrupt

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  • Cryptopia is bankrupt

    I have token in Crpytopia when they get hacked or bankrupt, will get back our token & coins? I look there website and see:

    First liquidators’ report on Cryptopia released today

    31 May 2019

    The liquidators for Christchurch-based crypto exchange, Cryptopia released their first report into the company’s affairs today. A copy of the report can be found here.

    Liquidators David Ruscoe and Russell Moore have taken steps to secure the company’s assets and have filed a petition in the Bankruptcy Court in the Southern District of New York to preserve the Cryptopia information stored on servers in the US.

    The liquidators are continuing the process, begun before the company was placed in liquidation, of recovering crypto-assets compromised from the hack of Cryptopia’s exchange.

    The liquidators, this week gained a Court Order from the New Zealand Courts allowing them to utilise certain crypto-assets to recover, preserve and protect assets. At this stage of the investigation the liquidators cannot estimate a date for when the liquidation will be completed. “As liquidators we have a responsibility to protect and preserve crypto-asset holdings for the benefit of those entitled to them,” says Mr Moore. “We are aware of and understand the frustration of Cryptopia’s customers. As there is no legal precedent on crypto assets in New Zealand and worldwide, the distribution of those assets and the overall conduct of the liquidation will require significant direction from the New Zealand Courts.” There will be no further comment from the liquidators at this stage.

    Anyone know what is happen? class-action law filing?

  • #2
    Keep checking Twitter, last update about July 3rd
    We have obtained Chapter 15 Bankruptcy Recognition in the United States


    • #3
      Cryptopia had issues with hacks and such for years. They didn't seem to make security a top priority.


      • #4
        COMPANIES IN RECEIVERSHIP AND LIQUIDATION Update for Cryptopia account holders 20 August 2019


        • #5
          Cryptopia posted an update:

          The latest update for #Cryptopia stakeholders is now available. The next statutory report is due in early December and we will provide a formal update on the liquidation progress via this report.


          • #6
            Hi today get this email

            Cryptopia Limited (in Liquidation) update 25 October 2019
            Dear Cryptopia Stakeholder,

            You are being emailed as part of the Liquidation of Cryptopia Limited.

            The liquidators have applied to the High Court of New Zealand for directions regarding the legal status of customer holdings and the ability to hold Cryptocurrency on trust. The Liquidators have asked the Court to appoint two Queen’s Counsel for these proceedings.

            The Court has approved the Queen’s Counsel appointment and service of this order must be effected by the liquidators sending an email with a link to these proceedings for all potential trust beneficiaries and creditors that Cryptopia held email addresses for.

            The Court orders and an update from the liquidators can be found at the link below:

            just posting because more update about this.


            • #7
              The Liquidators' Second Report on the State of Affairs of Cryptopia Limited (In Liquidation) is now available:


              • #8
                rescheduling, again:

                The #Cryptopia directions hearing has been rescheduled to 11-14 Feb @ Christchurch High Court. We are seeking directions about the legal status of customers’ holdings & the ability to hold Cryptocurrency on trust. All Liquidation info can be found here: