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.

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.

Will Cryptopia open a new exchange?

While the statement says that trading on the exchange is suspended 'while the investigations take place', leaving an opening for trading to resume once those investigations are completed, there is a great chance the outcome will be that Cryptopia won't open the exchange at any stage for traders.