Cryptopia - Your Funds Are Not Lost

The company itself has announced progress in securing and preserving exchange funds. A hacker victim in January, the exchange said on August 21 "it has made good progress towards securing and preserving Cryptopia's crypto properties for the benefit of those entitled to them."

This is great news if you have kept funds in this exchange and were unable to withdraw before this tragic January news.

There is this hope guaranteed by Cryptopia as it states 2 reasons for the delay in identifying the properties of exchange clients. The company explains that client funds were not segregated into individual portfolios and were pooled together as the exchange kept details of its clients' holdings in its database. As a consequence of this organization, it is impossible to determine individual ownership using only wallet keys.

The company hopes that the processes can reveal the individual interests of each of the users. The company also states that the process is already underway, explaining:

“We are working to cross-account data from over 900,000 customers, many of whom hold multiple crypto assets, millions of transactions and over 400 different assets. These must be reconciled one by one. "

In short, it may take a while, but customers may be able to recover at least some of their assets recovered through the exchange.



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