Cryptopia is in liquidation, stops all services

Cryptopia is in liquidation, stops all services

Cryptopia, the New Zealand based crypto exchange, which was hacked for over 16 million USD back in January, has suspended all services and will be liquidated, the company announced in a statement.

The liquidation will be supervised by the consultancy and audit firm Grant Thornton New Zealand, the local subsidiary of Grant Thornton International.

In January crypto currency investors, who had wallets with Cryptopia lost assets for more then 16 million USD, including more that 3,5 million worth of Ethereum coins after a hacker attack.

In the aftermath of an investigation by the local authorities the exchange resumed operations in March, but faced serious financial problems and had to file for bankruptcy earlier this month.

“Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders. The liquidators are focused on securing the assets for the benefit of all stakeholders. While this process and investigations take place, trading on the exchange is suspended”, Cryptopia said in its statement.

The process of liquidation is expected to take several months.

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