Cryptopia gets Green Light to start Running Again But Will it Open?

Cryptopia

Cryptopia gets Green Light to start Running Again But Will it Open?

According to NZHerald, police has given the green line to the Cryptopia exchange and says it can “open again whenever they like.” However, the Christchurch-based company’s website is still showing the same “maintenance” mode message. The social media accounts of the company still remain dormant as they have been since late January.

“We have finished the main part of the work required by the High Tech Crime Group at Cryptopia’s business premises, although HTCG staff remain there finishing up aspects of their work,” detective inspector Greg Murton has been quoted as saying.

Though the detective inspector declined to comment on the amount of cryptocurrency that has been taken in the online heist and  if or when changes might be laid on the exchange. However, he did say, they are free to open the business.

“Police does not let us” Excuse Not Valid Anymore

“Cryptopia management have full access to their facilities and business premises and the Police investigation is not preventing their business from getting up and running again.”

Another New Zealand-based publication quoted a source as saying that they could get up running again, “Judging by overseas experiences when exchanges have been hacked and taken losses, they’ve been able to get going again.” the source said.

“Cryptopia’s big attraction was their alternative coin trading, and that could be their savior because no one else was trading with their depth and breadth of coins. Also, they never lost any Bitcoin so that might help,” the source added. However, the founders of the company Bob Dawson and Adam Clark cannot be contacted.

According to the police, Cryptopia Staff is cooperating and its management was the one that alerted the police to the hack. Moreover, the earlier reports that the police “stormed” the company’s building in Christchurch was “entirely incorrect.”

Even before the hack, Cryptopia was apparently facing many challenges in the form of a class action lawsuit by a Christchurch lawyer Clive Cousins. Cousins has said last year that “he had been approached by multiple Cryptopia customers who faced delays or were unable to get funds out of the crypto exchange,” reported the New Zealand publication.

Last year, Cryptopia has said it had 1.4 million users worldwide and about 80 staff members. Recently, a report on the Crypto hack by Elementus claimed

“the hackers have liquidated $3.2m in tokens, with the bulk of that going to Etherdelta.”

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Cryptopia gets Green Light to start Running Again But Will it Open?
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Cryptopia gets Green Light to start Running Again But Will it Open?
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police has given the green line to the Cryptopia exchange and says it can “open again whenever they like.” However, the Christchurch-based company’s website is still showing the same “maintenance” mode message. The social media accounts of the company still remain dormant as they have been since late January.
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Anjali Tyagi 442 Articles

Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.

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