From there, you fill in the information about the coin, including its name, ticker, algorithm, network type, currency website, block explorer link, and more. This covers the cost of reviewing the information and adding it to the website. A unique feature of Cryptopia is the inclusion of a marketplace where users can buy and sell items, post auctions and wanted ads – a bit like eBay or Facebook buy and sell groups. Most of the items listed are Crypto-related, such as mining contracys, ICO guides, currencies, trading bots and other pieces of software.

As of a December 2022 update, 84.5% of users had participated in the Cryptopia claims process in some way. This, however, includes any users who may have only opened the email or clicked on the link to the portal and are yet to fully engage in registering their claims. I keep seeing threads appear regarding the amount of time it takes to withdraw from cryptopia. Personally, i have a decred withdrawel stuck on the processing status for around a week now. Currently, the process is still in the claim registration stage, as the liquidator company says they need to collect more claims to proceed forward. So, if you are one of the victims of the Cryptopia hack, we strongly recommend you join the claim registration process.

  1. The system generates a one-time deposit address, and you send the money there.
  2. The exchange supports hundreds of cryptocurrencies in trading pairs with BTC, USDT, NZDT, LTC, and DOGE.
  3. As the symphony progresses, confirming withdrawal details becomes the pivotal movement.
  4. When you transfer cryptocurrencies between wallets, you will have to pay a fee, and this fee depends on the currency in question plus other variables.
  5. The platform suffered a security breach on January 14, 2019, causing significant losses to users from over 183 countries around the globe.

Please make sure to do your own research, make educated financial decisions and consult your Financial Advisor. This depends on how busy the network is and the type of altcoin being transferred. Withdrawing or depositing NZD might take a couple of days, depending on what time of day you submit the request, how quickly the transaction is approved, and how busy the site is at the time. However, they do have 548 different altcoins in which you can trade your coins with. Naturally, this includes all the most prominent ones, like Bitcoin, Ethereum, Dash, Monero, Litecoin, Dogecoin, and many more. Cryptopia is a great place for those who are looking to purchase or sell crypto, or purchase or sell anything with crypto, or even trade a brand new altcoin of your own creation.

To get level 2 (withdrawal up to $50,000 NZD per day) you need to provide your personal data + download the appropriate documents to confirm them. The possibility of obtaining the third level is discussed with the support service individually. Cryptopia makes it easy to contact customer support via the chat program, forums, and social media. The last two of these also allow you to ask other community members for assistance. You can easily send support tickets for specific issues, such as requesting a bank transfer or reporting an error.

Taken over by the accounting and advisory organization Grant Thornton LLP, Cryptopia’s liquidation process has been going on for a couple of years now. Despite the good news Cryptopia victims received in 2020 on their ownership over the virtual assets, the company still hasn’t refunded the entirety of the loss that occurred due to the alleged hack. In November 2020 Grant Thornton issued a warning to Cryptopia account holders after a New Zealand court mistakenly released Cryptopia customer data to an “unauthorised third party”. The latest developments from reporting from New Zealand news site Stuff on February 18th that more cryptocurrency was stolen from a Cryptopia related wallet on February the 1st this year. Stuff says $62,000 worth of the XSN cryptocurrency was removed from a wallet owned by US company Stakenet. After the hack, during the liquidation process, all Cryptopia workers’ contracts were terminated but Glaser kept his copy of the exchange’s private keys.

What happened to Cryptopia?

Cryptopia was one of the most popular crypto exchanges back in the day before it faced a massive security breach in 2019. The platform was hacked, and a considerable amount of digital assets was stolen from the wallets of the platform users. Cryptocurrency trading is fraught with risks, including cryptopia withdrawal time the high volatility of assets and potential security breaches on blockchain platforms. The arbitrage feature allows users to check which currencies are trading at which prices on different exchanges. Margin trading is not offered and a lot of confirmations are required to trade altcoins.

Cryptopia’s Block Explorers allow you to view detailed information on all transactions and blocks. Due to continued unprecedented growth we are receiving support tickets faster than we can train new staff to deal with them. You can participate and win a daily or monthly lottery, which typically awards prizes for first, second, and third places. At the time of writing, the Lotto portion of the website had not been recently updated, with the most recent drawing in the history listed in late October 2017. However, it is worth keeping your eye on the Lotto to see if Cryptopia works to revive it.

Cryptopia update – Claims process continues and ex-employee sentenced for theft

As of the report, Grant Thornton states that 82.3% of users have interacted with the claims process in some way. The percentage includes account holders who may have simply opened the email or clicked the email, but are not yet actively engaged in registering the claim. On the 28th of March 2022, Grant Thornton, the liquidators of failed cryptocurrency exchange Cryptopia, released an update to stakeholders and claimants. The accounting and financial services firm reports that stage 2 of the claims process is still ongoing after being executed around 6 months ago in October 2021.

Cryptopia is unique in that it offers its clients a unique authentication device for 2 factor identification. However there is some speculation about the security of the platform and developers have identified weaknesses. This platform features a great exchange but users should remember it is not a wallet. As discussed earlier, several traders have reported slow to no responses from the Cryptopia customer support team. One of Cryptopia’s major draws is the sheer number of coins it has available for trading. The exchange supports hundreds of cryptocurrencies in trading pairs with BTC, USDT, NZDT, LTC, and DOGE.

Buying CampusCoin (CMPCO) for funds out of your bank requires a 2-step course of. Launched in 2014, Cryptopia is a trading and exchange web site for almost all cryptocurrencies. Cryptopia is concentrated on allowing users to expertise better platforms rather than just a common change. Also, allow customers to buyAltcoinat any price offered by other sellers and promote them at the requested price. New Zealand-based crypto exchange Cryptopia has reopened trading on 40 trade pairs following a mid-January hack.

Get the Reddit app

Cryptopia used to be a preferred exchange for investors looking to purchase relatively unknown coins. Cryptopia often lists projects when they’re still too small to be listed on a major exchange like Binance. Investing in these small coins can be highly risky, but finding the right one could mean striking gold.

What Cryptocurrencies Does Cryptopia Support?

However, especially at the early stages of the crypto hype, the pitfalls of blockchain technology weren’t discovered yet, and measures against cybercrime weren’t regularly implemented. On 8th April 2020, the High Court of Christchurch issued a judgment stating that the liquidators estimated Cryptopia had cryptocurrency currently worth about NZD 170 million at the time of the hacks. Somewhere between nine and 14 percent of its cryptocurrency was stolen, according to the court document. Cryptopia operated as a centralized exchange and customer trades occurred on the exchange’s internal ledger, without any confirmation on blockchains like Bitcoin or Ethereum.

Has anyone managed to withdraw the funds from Cryptopia?

As long as you verify your account, you can use Cryptopia regardless of where in the world you are. Just keep in mind that the only fiat currency the platform uses is New Zealand dollars since this is where the platform is based. Additionally, any bank transfer must be done using a New Zealand bank account.