• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
cryptopia exchange
Nexo

Cryptopia Liquidators Face New Hurdle Estimating Crypto Holdings

Christina Comben by Christina Comben
2 years ago
in Bitcoin Exchange, News, News teaser
0
Advertisement

Ever since Grant Thornton were appointed as liquidators of the defunct Cryptopia exchange it’s been an uphill struggle. Now, they can’t determine whether the funds in users’ accounts actually match the amount held in the hacked exchange’s hot and cold wallets.


Cryptopia Liquidators Submit Plea to Court

You have wonder whether Grant Thornton knew they’d face so many problems when they took on the Cryptopia challenge. From finding out that users’ funds were sent to co-mingled wallets to uncovering massive KYC/AML breaches, the hurdles have kept on coming.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The biggest problem they now face is that of determining whether the balances that Cryptopia showed on customer accounts is the same as its balance in its hot and cold wallets. In an update on March 10, the liquidators submitted a plea to the New Zealand court to help them speed up the process.

The Cryptopia hearing was held 11-14 February at Christchurch High Court. No judgement was delivered with Justice Gendall reserving his judgement. The Liquidators have today uploaded subsequent affidavits and submissions in regards to the proceedings here: https://t.co/94p7iurDKQ

— Cryptopia Exchange (@Cryptopia_NZ) March 10, 2020

In the Submission of Counsel for the Liquidators document, the company reiterates its problem to the Court:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Liquidators have not been able to ascertain whether Cryptopia’s actual cryptocurrency holdings, in the hot and cold digital wallets held by it, corresponded with the verified coin balances of account holders, as recorded in the SQL database, at any given time.

It further states that, if forced to perform a ‘reconciliation process’ to ascertain the true figures, it will take a very long time.

Waiting for the reconciliation process to be completed before determining the trust issue may significantly prolong the resolution of the issues set out in the Application, and the ultimate distribution to creditors/beneficiaries. There is no certainty as to when the reconciliation process might be complete.

They, therefore request that the Court waive the need to follow the process in the interests of all Cryptopia victims. How the Court will respond is another matter. But it seems that everyone (including its liquidators) wants to close the case as soon as possible.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

How long do you think this process will continue for? Let us know your predictions in the comments below!


Images via Shutterstock, Twitter @Cryptopia_NZ

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christina Comben

Christina Comben

Related Posts

Elon Musk

Elon Musk To Twitter: Let’s Do A Public Debate On Bots!

1 day ago
Barcelona

Barcelona FC And Socios.com Sign $100 Million Deal For Web3 Push

1 week ago
digital payments

 Restrictions On Cash Payments In Israel Prompt Shift To Digital Payments

1 week ago
Ethereum

Ethereum Creator Says Facebook’s Metaverse Attempt Will Fail

1 week ago
Axie

Axie Infinity CEO Denies Claims Of Insider Trading; Game Token’s Value Down To Zero

1 week ago
Miami

Miami Boosts Crypto Image With Release Of 5,000 NFTs With Mastercard, Time And Salesforce

2 weeks ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.