{"id":33831,"date":"2024-12-20T16:00:22","date_gmt":"2024-12-20T13:00:22","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=33831"},"modified":"2024-12-20T14:21:48","modified_gmt":"2024-12-20T11:21:48","slug":"the-bankrupt-cryptopia-exchange-is-distributing-225-million-to-hack-victims","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/the-bankrupt-cryptopia-exchange-is-distributing-225-million-to-hack-victims\/","title":{"rendered":"The Bankrupt Cryptopia Exchange Is Distributing $225 Million To Hack Victims!"},"content":{"rendered":"<p>Initially owing $4.2 million, <a href=\"https:\/\/coinengineer.net\/blog\/trumps-project-seizes-the-dip-and-buys-ethereum\/\"><strong>Cryptopia&#8217;s<\/strong><\/a> liquidator <strong>Grant Thornton<\/strong> distributed $225 million to hack victims in December.<\/p>\n<p>The liquidators of the bankrupt <strong>Cryptopia<\/strong> exchange have started distributing millions of dollars to users affected by a hack that occurred almost six years ago. <strong>Cryptopia&#8217;s<\/strong> liquidating firm, <strong>Grant Thornton<\/strong>, announced on December 20 that distributions began for over 10,000 verified account holders impacted by the 2019 hack.<\/p>\n<p>In the past two days, verified account holders of <strong>Bitcoin<\/strong> and <strong>Dogecoin<\/strong> received crypto distributions worth at least 400 million New Zealand dollars ($225 million).<\/p>\n<p>These payouts mark a significant milestone in <strong>Cryptopia\u2019s<\/strong> liquidation process since <strong>Grant Thornton<\/strong> launched the <strong>Cryptopia<\/strong> claims portal in 2020.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-33832 aligncenter\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/cryptopia.jpg\" alt=\"cryptopia\" width=\"1280\" height=\"680\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/cryptopia.jpg 1280w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/cryptopia-300x159.jpg 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/cryptopia-1024x544.jpg 1024w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/12\/cryptopia-768x408.jpg 768w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/the-bankrupt-cryptopia-exchange-is-distributing-225-million-to-hack-victims\/#Grant_Thornton_Plans_To_Make_More_Distributions\" title=\"Grant Thornton Plans To Make More Distributions\">Grant Thornton Plans To Make More Distributions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/the-bankrupt-cryptopia-exchange-is-distributing-225-million-to-hack-victims\/#Cryptopia_Had_Lost_16_Million_Due_To_The_Hack_in_2019\" title=\"Cryptopia Had Lost $16 Million Due To The Hack in 2019\">Cryptopia Had Lost $16 Million Due To The Hack in 2019<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Grant_Thornton_Plans_To_Make_More_Distributions\"><\/span>Grant Thornton Plans To Make More Distributions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>After the first distribution, the liquidators will continue to follow the approved process and announce the cut-off dates before distributing the remaining <strong>BTC<\/strong>, <strong>DOGE<\/strong>, and other coins to account holders, according to<strong> Grant Thornton<\/strong>.<\/p>\n<p>&#8220;The liquidator mentioned that an additional top-up distribution could be made to account holders, allowing them to receive up to 100% of their holdings using &#8216;unclaimed assets&#8217; from those account holders who have not registered in the claims portal after the cut-off dates.&#8221;<\/p>\n<p>Grant Thornton encouraged remaining Cryptopia account holders to register on the claims portal and complete the necessary steps for future distributions.<\/p>\n<blockquote><p>&#8220;Further distributions for newly verified users are planned for the New Year,&#8221; added Grant Thornton.<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Cryptopia_Had_Lost_16_Million_Due_To_The_Hack_in_2019\"><\/span>Cryptopia Had Lost $16 Million Due To The Hack in 2019<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Founded in 2014, <strong>Cryptopia<\/strong> was an international cryptocurrency exchange and one of the first crypto exchange services in <strong>New Zealand<\/strong>.<\/p>\n<p>At its peak, by 2018, it had approximately 1.4 million registered users and was the largest crypto exchange in<strong> New Zealand<\/strong>.<\/p>\n<p>It was also one of the country\u2019s first stablecoin issuers, launching the <strong>NZD-backed NZed (NZDT)<\/strong> stablecoin in May 2017.<\/p>\n<p>After the hack in January 2019, initial analyses revealed that the exchange had lost approximately $16 million worth of various crypto assets.<\/p>\n<p>In May 2019, <strong>Cryptopia\u2019s<\/strong> liquidator, <strong>Grant Thornton<\/strong>, released an estimation report on the company\u2019s financial state, stating that the hacked exchange owed a total of $4.2 million to its creditors.<\/p>\n<hr \/>\n<p><em class=\"darkmysite_style_txt_border 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Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for\u00a0<\/em><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Initially owing $4.2 million, Cryptopia&#8217;s liquidator Grant Thornton distributed $225 million to hack victims in December. The liquidators of the bankrupt Cryptopia exchange have started distributing millions of dollars to users affected by a hack that occurred almost six years ago. Cryptopia&#8217;s liquidating firm, Grant Thornton, announced on December 20 that distributions began for over<\/p>\n","protected":false},"author":29,"featured_media":33835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[657,11,2],"tags":[60,10306,67,10305,1201,4316,10307],"class_list":["post-33831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-en","category-exchange-news","category-news","tag-btc","tag-cryptopia","tag-doge","tag-grant-thornton","tag-hack","tag-new-zealand","tag-nzd-backed-nzed-nzdt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Bankrupt Cryptopia Exchange Is Distributing $225 Million To Hack Victims! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/the-bankrupt-cryptopia-exchange-is-distributing-225-million-to-hack-victims\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Bankrupt Cryptopia Exchange Is Distributing $225 Million To Hack Victims! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Initially owing $4.2 million, Cryptopia&#8217;s liquidator Grant Thornton distributed $225 million to hack victims in December. 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