Victims of Cryptopia hack will receive compensation of $ 100M

By Nogelyax2 | Nogelyax2 | 9 Apr 2020

Victims will be reimbursed!

Cryptopia was a New Zealand exchange particularly known for its listing of small cap cryptocurrencies. In January 2019 Cryptopia was the target of a $ 16 million hack. Cryptopia had been placed in liquidation in May 2019 following this colossal loss.

The Cryptonia team published in a tweet on April 8, a document of around 74 pages detailing the outcome of the judgment.

Justice David Gendall ruled that Cryptopia held digital assets through trusts for each asset.

Thanks to this decision, the liquidators of Cryptopia, supervised by Grant Thornton New Zealand, are now able to redistribute user funds. The liquidators have estimated that Cryptopia holds $ 101 million.

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