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.

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James Fox
James Fox
Cutting his teeth in the world of startups and Fintech, James went on to gain a profound interest in Cryptocurrencies and blockchain, investing in Bitcoin, Ethereum and LiteCoin, but never letting it weigh on being objective. Now working full time as an editor for a blockchain gaming site, James still lends his writing abilities and contacts out on a freelance basis, thanks to his marketing experience with other projects.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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