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Will Cryptopia return digital assets after a cyberattack?

The bankrupt cryptocurrency exchange Cryptopia is planning to return digital assets to its users affected by a cyberattack that occurred in 2019. Following a prolonged period of uncertainty and legal proceedings, the New Zealand-based exchange aims to provide relief to those impacted by the security breach, according to a report by Coindesk.

What is Cryptopia & how does it work?

Cryptopia is a forgotten classic when it comes to crypto exchange hacks - a cautionary example of how dirty things get when an exchange gets hacked and goes under. Although the allegations that the hack was an insider job were never confirmed nor denied. The situation turned into an endless nightmare for creditors regardless.

Can a Cryptopia customer claim a return from a defunct exchange?

The liquidator of the defunct cryptocurrency exchange Cryptopia has told former customers they can now begin making claims for the return of their funds.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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