Why is Cryptopia shutting down?

Cryptopia is closing up shop, shutting down the exchange while many users still have funds on it. What is going on, and what will happen to the funds of traders? Here is everything we know about the Cryptopia liquidation so far. So why is Cryptopia going out of business? Cryptopia is shutting down because of the hack that took place mid-January.

Was Cryptopia hacked again?

The transformation of value in the digital age. The hacked wallet belonged to a creditor, U.S. firm Stakenet, which had not lost funds in the 2019 hack, as reported by Stuff. The Cryptopia exchange has reportedly been hacked again, even as it is being liquidated following a previous breach that stole NZ$24 million (US$15.5 million).

When did Cryptopia reopen?

Following a police investigation that took months, Cryptopia finally reopened again mid-April, but it appeared to be only for one month. On Tuesday, Cryptopia's website went offline because of 'maintenance', but as some users already expected, the exchange wasn't going to reopen again.

Does Cryptopia have a claims process?

Grant Thornton addressed Cryptopia account holders in a public statement that confirmed the beginning of a claims process. “We invite you to register on the Cryptopia claims portal. This marks the launch of the Cryptopia claims portal to start the process of returning account holders' property,” said the statement.