Post
Topic
Board Service Announcements
Re: Cryptopia Cryptocurrency Platform Services and Development
by
Timelord2067
on 26/08/2019, 00:42:26 UTC
No one don't want to follow their updates on some service.
We just want to see the working exchange and turn back our liquidity and assets.
Or... We will just do mining and trading some another coins on another exchanges.
But that assets will not give - nothing, for them all, but only give the problems - in future...

From the above link we can glean the following faults with Cryptopia's handling of Customer's accounts:

Quote
We now have possession of Cryptopia data that was stored by a third-party data centre in the United States, and since the last update have been successful in accessing that data. This is a very pleasing step towards determining customer holdings, as the data contained the only records of Cryptopia’s customer holdings and certain crypto-assets were only stored on these servers.

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Determining customer holdings

We appreciate that customers are wondering why it is taking so long for us to determine customer holdings. There are two main reasons for the time and complexity of the process:

  • Customers did not have individual wallets and it is impossible to determine individual ownership using just the keys in the wallets.   
  • No detailed reconciliation process between the customer databases and the crypto-assets held in the wallets has ever been completed.

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While our reconciliation process is progressing well, we still require direction from the New Zealand Courts before we can return crypto-assets to customers. The information outlining the legal process included in the last communication are still current and is below.

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The KYC process cannot be avoided, it is a legal requirement in New Zealand, and prior to returning crypto-assets we will correspond with customers as to how this process will be completed. Please note, customers who have previously completed the KYC process with Cryptopia will still need to go through the process set by us.

OK?