The liquidators of defunct cryptocurrency exchange Cryptopia have told users they'll soon be able to register to claim their trapped digital assets, worth a combined $100 million.
- The liquidators will reach out to the 960,000 account holders via official channels, and will verify identities and account information of claimants.
- Grant Thornton has said the steps are necessary to ensure the repatriation of assets complies with New Zealand law and doesn't inadvertently fall into the hands of criminals or even the exchange's hackers.
- An estimated $17.8 million worth of cryptocurrencies was stolen from Cryptopia in early 2019.
- Cryptopia held an estimated $100 million worth of digital assets at the time of its liquidation.
- These funds were held by liquidators and were embroiled in a legal case over whether they should be used to settle claims of the exchange's creditors.
- But a court found in May that the cryptocurrency in question should be classed as a form of property that belonged to users and was only held in trust by Cryptopia.
- As such, users are entitled to receive their cryptocurrencies back.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.