Cryptopia: investigation over, given green light to re-open

#1

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#2

I hope they net everyone with an even loss. I have assets (not ethereum) on Cryptopia, and I would much prefer to give some of that up so people who lost everything aren’t hit as hard, than find out that people lost their entire life savings from this.

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#3

:man_facepalming:

IF they actually reopen and IF you still have funds when they do…get your coins and run…run as fast and far away as possible. (Not financial advice) :slight_smile:

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#4

Yeah with the inevitability of mass withdrawals from the user base it’s predictable that there will be a tight withdrawal limit for some time.

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#5

Get your etn back people !!!

Gonna be a bank run on that place…

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#6

It doesn’t seem likely they will be able to take funds from those not affected to cover the losses of those that were. I think they will eventually open and allow people to log on and retrieve what they have. They have a lot of single projects listed so those might have to keep operating on that exchange as they have nowhere else to go. I think they will keep going but lose a lot of customers for a while anyway.

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#7

The only way they survive if they reopen is to make a statement that all lost funds will be paid back in full over time using revenue they make via transaction fees, coin listing fees, etc…and even then, they have a long road ahead.

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#8

yeah you never know they might have 22 million nzd in the bank and cover it all. Who knows how liquid they are …

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#9

I suppose if Mt. Gox 2.0 is on the table, anything is possible.

Speaking of which, if you lost funds on Mt. Gox all those years ago, you now have a chance to retrieve those funds: https://claims.mtgox.com/assets/index.html#/

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