Liquidators discovered debts with Cryptopia


2019-01-25_14h51_23-821x400-600x292 Liquidators discovered debts with Cryptopia

Grant Thornton, the liquidator of the New Zealand cryptocurrency exchange Cryptopia, said that the site has outstanding debts to creditors in the amount of $ 2.738 million. Among lenders are companies such as Dell NZ and Coca Cola Amatil.

So, Cryptopia owes $ 912 thousand for secured loans and $ 1.37 million for unsecured ones. At the same time, the exchange did not pay salaries to employees in the amount of $ 207 thousand, as well as an additional $ 177 thousand for unsecured debt. Grant Thornton suggests that this amount could rise, with an expected deficit of $ 1.63 million.

In January of this year, Cryptopia was the victim of a massive hacker attack, during which, according to various estimates, about $ 16 million of user funds were stolen.

Nevertheless, then the exchange decided that it would be able to overcome difficulties and settle accounts with affected users, however, after the reopening of trading, volumes fell significantly and a decision was soon made to completely liquidate the enterprise.

At the time of the announcement of liquidation, there were about $ 691 thousand in Cryptopia reserves, taking into account a loan of $ 150 thousand. Most likely, according to Grant Thornton, they will also be able to sell the fixed assets of the site and gain $ 242 thousand.

Cryptopia data is stored on servers in the US state of Arizona, so the site needs permission to start the liquidation process from the US authorities. It is expected that the process of returning funds to users will take several months.

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