Cryptopia starts the claims process to reimburse its creditors

After being hacked in 2019, Cryptopia has started the claims process to reimburse its creditors.

The liquidator of the now defunct crypto currency exchange, Cryptopia, has launched the claims process to reimburse creditors after the hacking suffered in 2019.

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The professional services company Grant Thornton, the liquidator appointed by Cryptopia, officially announced on 9 December that creditors can now start the process on the Cryptopia claims portal.

The claims process requires creditors to register on the Cryptopia portal and confirm the details concerning their account on the exchange. „Only verified account holders can register for the claims process,“ Grant Thornton said in the statement.

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Based in New Zealand, Cryptopia was the victim of a major hack in early 2019, which allegedly resulted in losses of USD 16 million. The exchange subsequently suspended its services and appointed the network’s audit firm, Grant Thornton, as liquidator. In May 2019, Grant Thornton published an estimate statement of the company’s financial status, in which it reported that the exchange owed a total of USD 4.2 million to its creditors.

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In July 2020, one of the main victims of the Cryptopia hacking filed a notice of breach of duty by the liquidators and was preparing to file a lawsuit.

Today, Graham Thorton stated that he will send emails addressing the details of the process later this week due to the large volume of claims.