COMPANIES IN RECEIVERSHIP AND LIQUIDATION

FAQs: Cryptopia liquidation

  1. How do I get my Crypto?

All trading on the Cryptopia exchange has been suspended. That means you cannot deposit or withdraw crypto assets. We are now undertaking an extensive process to confirm amounts owing and available to return to customers. This is a complex process and will likely require direction from the New Zealand Courts. Until the investigation has concluded we cannot return any crypto-assets to customers.

  1. What happens now?

Our first priority is to secure all crypto-assets at Cryptopia. To ensure this, we ceased trading on the exchange. Next, we need to confirm the amounts owing and available to return to customers. This is a complex process and we expect that we will need some direction from the New Zealand Courts to make sure a fair and legal solution is found.

Until the investigation is complete, we cannot return any crypto-assets to customers, or confirm whether individual customers will get all of their crypto-assets returned.

  1. Will I get my coins returned on the conclusion of the investigation?

The purpose of the investigation is to confirm the amounts owing and available to return to customers. Until the investigation has concluded, we cannot confirm whether individual customers will get all of their crypto-assets returned.

  1. How long will the investigation take?

Due to the complexity of the investigation and the number of customers and stakeholders involved, we expect the investigation will take months. We will keep you informed as information becomes available.

  1. My crypto wasn’t affected by the January hack. Why can’t I withdraw them?

While the hack earlier this year contributed to the issues which led to the liquidation, the current halt to trading affects the entire Cryptopia exchange. Until the investigation is complete, we cannot return any crypto-assets to customers, or confirm whether individual customers will get all of their crypto-assets returned.

  1. Why did you have to freeze the exchange?

In order to secure all crypto-assets and get an accurate picture of the current situation, we needed to halt trading on the exchange.

  1. Will trading on Cryptopia resume?

At this stage there is no intention to reopen trading on the exchange. Please do not deposit any further coins with Cryptopia. 

  1. Will Cryptopia ask me for further funds?

No, we will not ask you to deposit any further crypto-assets or confirm user details at this stage. The only direct point of contact will be made via the email address you used when you registered on the Cryptopia exchange.

Please take care to ensure that any communications asking you to deposit further funds are not scams.

  1. When will my funds be returned?

We are not in a position to confirm a timeline yet, but we expect the investigation to take months rather than weeks. 

We will update customers and other stakeholders as soon as we have further information via the Cryptopia website.

  1. I accidentally deposited coins, can I please have them back?

We will not allow any withdrawals until our investigation is complete. Please do not deposit any further assets with Cryptopia.

  1. What does Liquidation mean for Cryptopia?

Cryptopia is in liquidation as it could not meet its debts as they fell due. Liquidation legislation is set out in Part 16 of the New Zealand Companies Act 1993 which you can find here.

  1. What will the Liquidator’s investigation cover?

We will thoroughly review the operations and affairs of Cryptopia to establish whether any further matters need to be investigated.  The Liquidator’s powers of investigation are set out in Part 16 of the New Zealand Companies Act 1993. They are explained here.

  1. Can I get a screenshot of my Cryptopia balances?

We cannot confirm any customer balances until we have completed our investigation.

  1. Will you return my balance in crypto or fiat?

At this stage we cannot confirm what will be returned or whether crypto assets will be returned as crypto-assets or fiat currency.

  1. Can you provide a transaction report for taxation purposes?

At this stage we are not in a position to confirm the underlying transactions or trade history that make up customer balances.

  1. How do I fill in the unsecured claim form?

In respect of filling in unsecured claim forms, stakeholders need to state their holding in crypto-assets and provide any supporting evidence of the holding that they may have.