The application process for creditors of the liquidated crypto exchange Cryptopia begins

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The liquidator of the now-defunct cryptocurrency exchange Cryptopia has launched the claims process to reimburse creditors after a 2019 hack.

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

For the application process, creditors must register in the Cryptopia application portal and confirm details of their Cryptopia account. “Only verified account holders can register in the application process,” stated Grant Thornton in the statement.

New Zealand-based Cryptopia was the victim of a serious hacking incident in early 2019, which reportedly resulted in losses of $ 16 million. The stock exchange then discontinued its services and appointed the network of the accounting firm Grant Thornton as liquidator. In May 2019, Grant Thornton released an estimate of the company’s financial condition and reported that the hacked exchange owed its creditors a total of $ 4.2 million.

In July 2020, a major victim of the Cryptopia hack reported non-compliance by the liquidators and was preparing to initiate a lawsuit.

Graham Thorton announced today that due to the sheer volume of claims, he will be sending out claims process emails later this week.