Disgraced Cryptopia Exchange Founder Wants the Public Trust Back with New Assetylene Product
Creator of the defunct Cryptopia exchange, Adam Clark, is back with a second try. His latest exchange is calling itself:
“New Zealand’s most advanced crypto trading platform.”
His previous exchange, Cryptopia, went into liquidation after a hack on May 15th that drained an estimated $16 million worth of crypto in 2018 and has recently been tracked moving in and out of the hackers’ wallets through various exchanges.
It seems unusual that someone who failed on such a grand scale would ask the public to trust him again so quickly.
What’s more, the new exchange appears to be just a shell and according to Decrypt, is running through the popular TradeSatoshi exchange software. That software is allows someone to make a basic exchange in just a few minutes using a turnkey solution. There is no trading data to speak of and the About Us page is completely blank.
The only positive that can be said is he technically has not worked for Cryptopia since February of 2018, months before the bitcoin hack. But that is according to LinkedIn, which also says he has been building Assetylene for at least 9 months now.
But that one small positive begs the question- why did an exchange made with TradeSatoshi exchange software, a software that touts ease of use in minutes, take 9 MONTHS to complete? Especially when it appears to be so hollow.
Is Assetylene even a real exchange? Will it suffer the same fate as Cryptopia? Or will it even get off the ground in the first place? Something seems fishy, but let’s wait and see if anyone trusts it before assuming it won’t work.