The bankrupt crypto exchange Cryptopia has revealed
its strategy to return digital assets to select users affected by the infamous
cyberattack of 2019. Following a prolonged period of uncertainty and
legal proceedings, the New Zealand-based firm aims to provide relief to those
impacted by the breach, according to a report by Coindesk.
Cryptopia faced a devastating blow in 2019 when it
fell victim to a cyberattack, resulting in the loss of millions of dollars in
tokens. Despite filing for liquidation thereafter, the exchange has announced
plans to redistribute Bitcoin (BTC) and Dogecoin (DOGE) to qualifying account
holders.
The pivotal moment arrived with a court ruling on
March 1, marking progress in Cryptopia’s bankruptcy case unfolding in
Wellington, New Zealand. This ruling paved the way for the exchange’s
decision to initiate the distribution process, offering hope to users awaiting
the recovery of their lost crypto assets.
Besides the cyberattack, Cryptopia encountered
further setbacks when a former employee breached the platform’s security in
2021, exacerbating the financial turmoil. Within the next three months,
eligible users will reportedly receive the first asset distribution, receiving
Bitcoin and Dogecoin.
Expect ongoing updates as this story evolves.
The bankrupt crypto exchange Cryptopia has revealed
its strategy to return digital assets to select users affected by the infamous
cyberattack of 2019. Following a prolonged period of uncertainty and
legal proceedings, the New Zealand-based firm aims to provide relief to those
impacted by the breach, according to a report by Coindesk.
Cryptopia faced a devastating blow in 2019 when it
fell victim to a cyberattack, resulting in the loss of millions of dollars in
tokens. Despite filing for liquidation thereafter, the exchange has announced
plans to redistribute Bitcoin (BTC) and Dogecoin (DOGE) to qualifying account
holders.
The pivotal moment arrived with a court ruling on
March 1, marking progress in Cryptopia’s bankruptcy case unfolding in
Wellington, New Zealand. This ruling paved the way for the exchange’s
decision to initiate the distribution process, offering hope to users awaiting
the recovery of their lost crypto assets.
Besides the cyberattack, Cryptopia encountered
further setbacks when a former employee breached the platform’s security in
2021, exacerbating the financial turmoil. Within the next three months,
eligible users will reportedly receive the first asset distribution,…
