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Cryptopia Exchange Appoints Liquidators, Community Suspects Exit Scam

Cryptopia, the New Zealand-based exchange ‘famous’ for several successional hacks at the start of the year, announces a halt in all operations due to liquidators getting down to work

As 2019 began, Cryptopia had bad luck to suffer several hacks in
succession when digital assets of its customers were stolen from the platform’s
hot wallets.

Later, the exchange resumed trading, however, the situation seems to have changed for worse.

Redditors start panicking

On Tuesday, a redditor published a post urging others to check Cryptopia’s website, which back then said that the exchange was undergoing maintenance. The redditor Fallenkeith2018 expressed fears that Cryptopia had been hacked one more time.

The post says:

I woke up this morning to check Cryptopia to see if there was any updates on the website about new trading pairs. When I went to Cryptopia mainsite, it says: “Don’t Panic!

We are currently in maintenance.

Thank you for your patience and we apologise for the inconvenience.”

Has there been any unofficial (or maybe official) word anywhere on what happened? I can’t find anything on the twitter or discord.

The last update on the exchange’s Twitter account was made on April 26,
when Cryptopia made a notification to users about a 1-hour maintenance.

This made people on Twitter and Reddit assume that the exchange had faced another malicious attack.

Cryptopia: liquidators have
been appointed

On Wednesday morning, notifications on both Cryptopia’s website and Twitter account appeared.

The highly publicised hack of Cryptopia’s exchange in January 2019 had a severe impact on the company’s trade. 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.

Source:
https://www.grantthornton.co.nz/press/press-releases-2019/cryptopia-limited-appoints-grant-thornton-as-liquidators/

The press release broke it to the community that the necessary investigation by the liquidators will take ‘months rather than weeks”.

This brought a storm of indignation from exchange users on Twitter, with many tweets suggesting that Cryptopia is simply doing an exit scam.

A user @OTC_Buyer assumed that Cryptopia is going to be sold to a more successful owner and the business will continue.

The majority of comments in the thread about the future of the trading
platform are highly skeptical or negative.

The post Cryptopia Exchange Appoints Liquidators, Community Suspects Exit Scam appeared first on Ethereum World News.

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Cardano (ADA) Listed on The Cryptopia Exchange and Encourages Registration For Shelly Testnet

The markets are all in the red, but there is some good news for the Cardano (ADA) community. ADA was just listed by the Cryptopia Exchange that hails from New Zealand. Cardano (ADA) is now available for trading and will be paired against Bitcoin (BTC), Litecoin (LTC) and Dogecoin (DOGE).

The Cryptopia exchange made the announcement via twitter and had this to say:

We’re happy to announce the listing of Cardano $ADA! Welcome to the Cryptopia family @CardanoStiftung! See more info on our Help Centre Listings page

The aforementioned Cryptopia listing page echoes similar statements and goes on to add that deposits and trading are available immediately.

Dear Cryptopians

Cardano (ADA) is now available on Cryptopia for trading. The following trade pairs are currently available – ADA/BTCADA/LTC & ADA/DOGE. You can start depositing and trading ADA from today.

Also to note, and with respect to the Cardano project, is the ongoing registration for parties interested in running a stake pool in the Cardano Shelly testnet. Cardano is progressing from the current centralized development phase, to a decentralized one in the mentioned Shelley phase. The development team at IOHK will be constantly preparing and communicating what the Cardano community needs to do in terms of being part of the staking and delegation on the Testnet. Once registration is complete on the 31st of May, decentralized features will be tested starting from the third quarter of this year.

ADA is holding strong in the markets in the number 7 spot according to coinmarketcap.com. The coin is currently valued at $0.20 and down 15.30% in 24 hours. The current depreciation in value is a market wide phenomena with Bitcoin (BTC) also seeing red and below $8,000. The King of crypto is currently trading at $7,688 and down 6.86% in 24 hours and at the moment of writing this. Ethereum (ETH) is also down 13.23% and currently trading at $592.

Seasoned traders know that there are only three options when the markets behave this way: cash out, HODL or buy some more of your favorite coins and tokens.