Cryptopia Exchange Addresses Customers, Shows Commitment to Relaunching with Loss Markers

Cryptopia Exchange Says They Are Committed To Reopening The Exchange

The cryptocurrency exchange Cryptopia announced that it is working in order to reopen the exchange after the hack they experienced. They have also provided an update of the funds they lost. The New Zealand-based crypto exchange was hacked earlier this year for $2.4 million in Ethereum (ETH) and other ERC-20 tokens.

Cryptopia Releases Information About Their Platform

During the last few weeks, those in charge of the Cryptopia exchange have been trying to recover the funds lost and reopen the exchange to allow users to trade digital assets once again. In a recent email sent to its customers, the platform informed that the organization is “100% committed” to reopen their platform for businesses.

Although many users have been very grateful to the exchange for the work that they have conducted and how they have dealt with the situation, there are some individuals that accused the exchange of conducting an exit scam.

The crypto exchange advised users not to deposit funds to the old Cryptopia address since they have changed wallets to receive crypto funds. The email also explains that they will be refunding all the customers that lost their funds during the security breach. Moreover, they explained that they are focused on being compliant and reopen the exchange as soon as possible.

About the balances and coins, the exchange mentioned:

“If you held balances in coins that were lost in the event you will start to see Withdraws on your account for those coins. The TXID for the withdraw will not exist on the network but will detail how the coin was impacted in the event.”

A few weeks ago, the platform updated its website and how the users will be affected by the current hack. Ethereum holders will be getting a 100% cut of their tokens since 0% of the coins were secured. Meanwhile, Bitcoin (BTC) and Litecoin holders will be receiving a cut of 14% and 43% respectively.

Different exchanges have been hacked during the last years. Some of them lost a few thousands of dollars while other exchanges were hacked for millions of dollars in digital assets. One of these exchanges affected was the Japanese platform Coincheck at the beginning of 2018. At that time, Coincheck lost $500 million in NEM (XEM) coins.