Quote from: squatter on May 15, 2019, 10:19:21 PM

Quote from: Lomingo on May 15, 2019, 06:05:24 PM

Does the new message on Cryptopia.co.nz and Twitter mean, that all my funds on Cryptopia are lost?

Not lost per se, but the company is entering liquidation proceedings. If you have a balance on Cryptopia, you will need to make a claim with the liquidators or trustee in the coming weeks or months. Then you'll wait in line with all of Cryptopia's other creditors who are hoping to get a fraction of their money back.

This could be a long, drawn-out process. It could end up taking years, like the Mt. Gox bankruptcy.

Appointment of liquidators shows the situation is not good but it also does not mean that it necessarily over.

Liquidators have special powers under New Zealand law - investigative, ability to compel creditors and shareholders to accept a resolution, restructure and cancel contracts like a lease.
http://www.lawsociety.org.nz/lawtalk/lawtalk-archives/issue-880/an-introduction-to-liquidations

They also have the power to continue trading if it is the best solution forward.

I'm disappointed but not surprised that they have taken this course of action. They did not have a lot of options after such a heist. I feel sorry for the small coins that only trade on there and people who hold balances of such coins.

The person or persons responsible for the theft didn't just steal the funds. They stole the livelihood of their staff, the potential of some of the coins, the value from the shareholders and CEFs holders and hurt a lot of the exchange users.