Cryptopia asks users to stop depositing funds; customers in distress as withdrawal service halted

Cryptopia, a New Zealand-based cryptocurrency exchange platform, recently announced that the firm would be liquidated and this process would be carried out by officials from Grant Thornton. Now, the exchange has asked users to stop depositing their cryptocurrency funds to Cryptopia addresses, via its official Twitter handle.

The exchange tweeted,

The platform entered the liquidation process following the hack that targeted it in January 2019. This news however, was unexpected by the platform’s customers, since the exchange platform had shut down its trading services citing maintenance. Notably, the exchange went under maintenance without giving its customers any notice in advance, pertaining to the update. Further, the exchange’s website was also down for over eight hours before news of the liquidation was made public.

These turn of events has resulted in several customers losing access to their funds, all of which was stored on the exchange. Further, the latest announcement indicated that there were still customers unaware about the liquidation process, which is why many of them were still depositing their funds in the exchange.

The public notice served by Grant Thornton stated that its investigation of the exchange platform could take months, rather than days. This resulted in a lot of distress among several customers, with many taking to Twitter to air their grievances.

Justice Omoruyi, a Twitter user, said,

“Hmmmmm! Why? Cryptopia. Why treat us like this.? This funds are ours. Give it to us”

Bobby C, another user, commented,

@Cryptopia_NZ knew they were exit scamming, opened deposits and withdraws of $BTC $LTC $Doge but nothing else so unless you sold at a loss you weren’t moving funds off their exchange. People deposited funds to buy new coins and lost those funds as well. @nzpolice”

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