What happened with Cryptopia

We are talking about an attack that took place in early January 2019, so almost 2 years ago.

This hack resulted in a heavy loss for the exchange – several million dollars – which forced Cryptopia to close its doors and start liquidation proceedings, which after some time seems to be draining.

For this reason, a program called „Cryptopia Rescue“ was created to take the place of all users who suffered a loss from this attack, and Bitcoin.com also joined the team to facilitate the task of redistributing the tokens.

Cryptopia Rescue spokesman Bitcoin Profit Victor Cattermole explained:

„The curator proposed to give up more than 50% of the funds. In our alternative plan, we have established a partnership with Bitcoin.com to provide an exchange environment to emulate the Cryptopia model so that all funds can be redistributed.

The role of Bitcoin.com
Indeed, since the inception of this programme in September 2019, the Bitcoin.com exchange has provided support and offered a useful and secure service to users, which has been taken into account, as explained by the CEO of Bitcoin.com exchange, Danish Chaudhry:

„We take this role within the consortium very seriously. [Bitcoin.com Exchange] will do everything possible, as a collective, to provide the best in class platform to redistribute funds to Cryptopia account holders through our exchange.

Although this platform will be used to connect liquidators and users, there are a few things that users should keep in mind:

The Cryptopia trustee is independent from Bitcoin.com Exchange.
Complaint information is only stored on the Trustee’s servers, not the Bitcoin.com Exchange servers.
Complaint information is private between customers and the Trustee.
Bitcoin.com Exchange is not involved in approving or denying claims.
Bitcoin.com Exchange does not determine when claims are distributed.
Therefore, there are limitations in any case, but it is still positive that users will be able to recover funds or at least some of the funds they had on Cryptopia.