Cryptopia goes into liquidation, another exchange abandons us

Cryptopia goes into liquidation, another exchange abandons us. Nothing to do for the bag, hit by a hacker attack in January.

Cryptopia, a New Zealand-based cryptocurrency exchange, has announced that it has discontinued its online trading activities on digital currencies, and has announced that it is now in liquidation. So, although it is certainly not the operator of major global reference in this sector, another exchange has left us, impoverishing the panorama of cryptocurrency exchanges and placing new doubts on the stability of these activities.

In detail, let's remember how in January Cryptopia would have suffered a security breach a because of a hacker attack that cost him several million dollars in tokens. Despite that blow, the company's directors reassured investors and customers that the problem would be resolved and that the exchange's profitability would be recovered by reducing costs.

Evidently, however, this was not the case. Prior to the announcement, the exchange's service was blocked for several hours due to an apparent maintenance activity. However, the "stand-by" did not last long: also pressured by the numerous requests for information from customers, the operator had to admit to having operations ceased.

To date, management has passed to liquidators David Ruscoe and Russell Moore, of Grant Thornton New Zealand, now in the process of liquidating assets and clearing creditors. The press release also states that customers and suppliers will be contacted in the coming days to define the procedure. The impression, however, is that things will go particularly long, also because of the complexity of the activities carried out by the exchange.