39 views

Cryptopia secures 35% of funds, 65% to go before reopening

The long road to the reopening of the Cryptopia exchange gets ever shorter today, as the firm announced that they are readying to open their doors once more, having secured 35% of funds to new wallets.

The update came via Twitter, with the New Zealand based exchange confirming that they have secured 35% of funds on the exchange to new wallets, caveating that this process needs to be completed prior to reopening.

For some this update came as a breath of fresh air, with a few showing appreciation for the transparency:

However, not everyone as quite so forgiving, with many complaining that progress was too slow:

Cyrpotpia began on the long road to recovery at the beginning of March, moving 24% of their wallets to new and secure servers, and promising a ‘read only’ version of the exchange, allowing victims of the hack a peek into which funds they held prior to the attack.

The next update came in the form of a ‘cancel-only’ mode in which users were allowed to remove buy/sell orders still open prior to the exchange closure, in order to avoid any losses resulting from a change in prices.

The exchange cites a total loss of approximately $20 million in assets, amounting to around 9.4% of their total holdings. The recovery process has taken its time, but for the most part, the community has appreciated the regular updates and transparency of the exchange as the process unrolls.

Responses