Liquidators wrapping up the hacked cryptocurrency firm Cryptopia have spent nearly $15 million and still have a long way to go.
Christchurch-based Cryptopia ran an international cryptocurrency exchange which was hacked in January 2019 in one of New Zealand’s biggest thefts.
About $24m of the exchange’s $250m store of cryptocurrencies was shunted to other exchanges after the thieves obtained electronic keys to secret wallets.
Shareholders passed a special resolution in May 2019 putting the company into liquidation and appointing David Ruscoe and Malcolm Moore of Grant Thornton as liquidators.
READ MORE:
* Ex-Cryptopia staffer admits stealing almost $250,000 of cryptocurrency
* Assets worth $62,000 allegedly stolen from liquidated company Cryptopia
* Former employee allegedly stole almost $250k worth of cryptocurrency from Cryptopia
* Controversial businessman recruiting Cryptopia victims for class action
Since then the liquidators have charged $4.34m in fees and spent $2.7m on legal costs (both amounts exclusive of GST) as part of the $14,991,000 cost of the liquidation to November 14, 2021.
The liquidators’ fees are for investigations, attempting to secure hacked assets, development and management of the claims’ portal, designing and overseeing an appropriate identity verification process, supervision of the Cryptopia customer support team, engagement with specialist crypto-asset experts and liaising with legal authorities.
stuff
Police guarded Cryptopia’s premises in Christchurch after a hack in January 2019.
The liquidators report good progress in the six months between May and November, saying in their latest report they had started verifying the identity of claimants from 183 countries.
Nearly 80 per cent of users of the exchange by value had become involved in the claims process, they said.
The next stage would be claim acceptance, when claimants would be given an opportunity to agree to their balances.
Staff photographer/Stuff
Cryptopia staff continued…
