The liquidators for Christchurch-based crypto exchange, Cryptopia released their first report into the company’s affairs today.
Liquidators David Ruscoe and Russell Moore have taken steps to secure the company’s assets and have filed a petition in the Bankruptcy Court in the Southern District of New York to preserve the Cryptopia information stored on servers in the US.
The liquidators are continuing the process, begun before the company was placed in liquidation, of recovering crypto-assets compromised from the hack of Cryptopia’s exchange.
The liquidators, this week gained a Court Order from the New Zealand Courts allowing them to utilise certain crypto-assets to recover, preserve and protect assets.
At this stage of the investigation the liquidators cannot estimate a date for when the liquidation will be completed.
“As liquidators we have a responsibility to protect and preserve crypto-asset holdings for the benefit of those entitled to them,” says Mr Moore.
“We are aware of and understand the frustration of Cryptopia’s customers. As there is no legal precedent on crypto assets in New Zealand and worldwide, the distribution of those assets and the overall conduct of the liquidation will require significant direction from the New Zealand Courts.”
There will be no further comment from the liquidators at this stage.
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