Liquidation of New Zealand crypto exchange reaches NYC bankruptcy court

Disclaimer: These summaries are provided for educational purposes only by Nelson Rosario and Stephen Palley. They are not legal advice. These are our opinions only, aren’t authorized by any past, present or future client or employer. Also we might change our minds. We contain multitudes. As always, Rosario summaries are “NMR” and Palley summaries are […]
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May 31, 2019, 4:19PM UTC

Cryptopia applies for US bankruptcy relief to protect users' digital assets; could take months to access holdings

Cryptocurrency exchange Cryptopia has applied for interim relief with the bankruptcy court in the Southern District of New York so that it can keep users’ accounts active on servers in Arizona, its liquidator Grant Thornton wrote. The New Zealand-based company is also seeking recognition for liquidation in the US. The interim order will allow Cryptopia […]
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May 27, 2019, 4:00PM UTC

Cryptopia founder plans to set up new exchange

The founder of a recently shut down cryptocurrency exchange Cryptopia is planning to launch a new exchange called Assetylene, Decrypt Media writes. Cryptopia went into liquidation earlier this month following a $23 million breach in January. Cryptopia’s founder Adam Clark departed from Cryptopia in early 2018 “due to new management wanting to take the company […]
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May 24, 2019, 2:52PM UTC

Cryptocurrency exchange Cryptopia halts trading and announces it is in the process of liquidation

Cryptopia, a cryptocurrency exchange headquartered in New Zealand, has halted trading and announced that it is now in liquidation. In January, the exchange suffered a security breach in which millions of dollars were stolen. Despite the loss, management believed it could reduce costs and return the business to profitability. Before the announcement, the exchange was […]
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May 15, 2019, 4:30AM UTC

Cryptopia hacker who pulled off a $16M heist still going

Cryptopia has still not located its security gap, as the hacker who stole $16 million in ethereum earlier this month has since taken another 1,675 ETH (worth about $180,000) from 17,000 Cryptopia wallets, blockchain analysis firm Elementus reports. Some of the wallets had been previously identified as at-risk or had already been emptied in the original hack. […]
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Jan 30, 2019, 10:05AM UTC

Binance freezes some of the $3.6 million stolen in Cryptopia breach

Binance CEO Changpeng Zhao has confirmed freezing a portion of the funds stolen from Cryptopia earlier this week, expressing his uncertainty on Twitter as to what motivated the hackers to send the stolen tokens their way. “Social media will be pretty fast to report it, and we will freeze it,” he said in a tweet. […]
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Jan 17, 2019, 7:24PM UTC