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Update for Cryptopia Claimants and Stakeholders 17 March 2021

Claims process

Since the Claims portal was launched in early December 2020, we have sent an email to all 960,000 account holders who had positive account balances according to Cryptopia’s Records. Over 57% by value of account holders have interacted with us in some way. The claims process is still at stage 1 of the below process:

Process Details
1. Claims registration Allows the registration of account holders' details and to make claims for their account balances
2. Identity verification Verifies account holders' identities to the necessary verification standard
3. Asset transfer Instigates asset transfers to account holders
  • While we have a significant number of claimants registering successfully, we appreciate that there are also a number who require support to complete the registration process. This is reflected by the number of tickets being raised through our customer support portal. We have taken on additional support staff to assist account holders to complete the registration process. We assure you that we will action all outstanding tickets prior to moving to stage 3 of the process.
  • If you are having issues with the registration please refer to the ‘Update for Cryptopia Claimants & Common Portal Errors 16 December 2020'.
  • We intend to carry out a further promotion of the portal to accountholders to encourage increased participation and will send a further email inviting account holders to register their details on the portal. We have received a number of emails and calls from account holders claiming that they had not received an email. In the majority of cases we were able to confirm to the account holders that they had received an email. Please double check your email spam folder to check whether you have been contacted.
  • The next stage of the claim process 2 ‘Identity verification’ will be launched in the next couple of months, with the asset transfer stage to follow on from this. However, the transfer stage will require the input and approval of the Court particularly in relation to the following:
    • Approving a distribution model that reflects the nature of stakeholders’ property
    • Confirming what is to be done with unclaimed Crypto-assets
    • Setting a cut-off date for claims to be received and assessed

Sealed orders

  • In this update we provide service of orders in respect of realisation of digital assets. We have received orders allowing us to convert 80 BTC into fiat currency to meet the reasonable cost and expenses of and incidental to the protection, preservation, recovery, management, and administration of any Cryptocurrency.
  • A copy of the sealed orders can be found here.

Where to go for updates

We appreciate that you want to be advised of our progress on the Cryptopia liquidation with our next statutory report due in June 2021. We will continue to update you as further information comes to hand. Updates and be found on the Grant Thornton New Zealand website, as well as the social media channels for Grant Thornton and Cryptopia.