Cryptopia-Secured-Custody-Contains-35-of-its-Coins-In-New-Wallet-Before-Relaunch

Cryptopia Secured 35% Of Its Coins In New Wallet Before Relaunch

You probably remember Cryptopia, a New Zealand-based crypto exchange which was hacked two times in January 2019. Since then, the people at the company have been working a lot to make the company ready for the relaunch. Now, in preparation for that, the company has recently affirmed that 35% of its total coins have been put on new wallets.

According to the company’s official Twitter profile, the tokens were moved in order to prepare for the relaunch. They also asked the users to keep an eye on their official page in order to know if more updates come up.

Cryptopia is slowly but surely moving in the right way to recover the losses and start its business again. The exchange recently opened the option for its users to cancel orders and this move was welcomed by most of the users, too.

The company affirms that it is working to complete its full relaunch and that the API is still disabled at the time of this report but you can go to the company’s site and cancel any order before the exchange comes back online. This is being done in order to prevent the users from losing money from old orders when the platform is finally online.

Since the hacking happened on January 14, the company had no choice but to shut everything down quickly. Because of this, all processes were stopped and the price of many cryptos is very different now than it was two months ago.

If people do not have the option to cancel their orders, not only their money was locked for a big amount of time in the platform, but they will incur even more severe losses again.

Therefore, the company has deemed that the option to let the users cancel the orders was necessary before the relaunch or their users would be hurt a second time and this time fully by a mistake made by the company.

Recently, the exchange has also announced that it was reopening its site, however, it was in read-only form for now. The exchange also affirmed that the pre-hack holdings of all the users would be used as a base for calculating any rebate in the future.

All users are required to reset all of their passwords and credentials as well, as there is a chance that they may have been compromised.

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