Cryptopia Exchange Liquidator Asks Its Devs How to Reimburse Users

Cryptopia Exchange Liquidator
Cryptopia Exchange Liquidator

Cryptopia Exchange Liquidator, Grant Thornton, the firm liquidating hacked New Zealand cryptocurrency exchange Cryptopia, has discussed how best to do so with the platform’s developers.

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Grant Thorton Cryptopia Exchange Liquidator aims for “collaborative relationship”

According to a leaked email from Grant Thornton originally dated Sept. 23, its executives planned to conduct an online meeting with the developers on Oct. 7. The email reads:

“Given the scale, complexity and unique nature of the Cryptopia situation it is desirable to develop a collaborative relationship with the developer community.”

The move marks the latest step in reimbursing the exchange’s clients, who lost about $4.2 million in total after the hack last January.

In August, preparations were already underway to determine wallet ownership, with the liquidation process facing various hurdles nonetheless.

“A positive message”

According to Grant Thornton, Tuesday’s meeting aimed to explain the liquidation process to the developers and ask for their assistance going forward. The email continues:

“We believe engagement is a vital element to the overall success of the liquidation and a positive message for the crypto community at large.”

The hack is somewhat smaller in scale than 2019’s other major exchange breaches. Binance automatically reimbursed users for $41 million stolen in May, while defunct Canadian platform QuadrigaCX is mired in scandal over the loss of close to $200 million.

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