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Cryptopia assures users of its commitment to reopening exchange; provides update on lost funds

Priya

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Cryptopia assures users of its commitment to reopening exchange; provides update on lost funds
Source: Unsplash

Earlier today, Cryptopia, the New Zealand-based cryptocurrency exchange that fell prey to two security breaches in January, sent a mail to all their customers, detailing the current situation. The introduction of the mail reassured customers that the organization was “100% committed” to re-open their platform for business. This remark was made considering the recent speculation of the hack being an “exit scam”.

Source: Cryptopia

Source: Cryptopia

This was followed by the exchange advising users not to deposit funds to the old Cryptopia address as the exchange has new wallets. Furthermore, the mail also stated that they would refund all the customers who lost their funds during the security breach.

It also stated that the exchange was “working through the logistics” of the situation in order to ensure that they are regulatory compliant.

Apart from this, the support team of the exchange is currently focusing on tickets pertaining to 2FA and password reset, allowing customers to be ready for trading when the platform goes live.

The mail read:



“If you held balances in coins that were lost in the event you will start to see Withdraws on your account for those coins. The TXID for the withdraw will not exist on the network but will detail how the coin was impacted in the event.”

It further stated:

“For each withdraw you will also see a subsequent deposit of Cryptopia Loss Marker [CLM], the TXID for this will also not exist on a network but will detail the coin it represents a loss for. CLM is not a coin, it can’t be traded as yet, it is just a number in the database that represents the loss for each coin for each user in $NZD at the time of the event.”

Recently, the exchange had updated their website, which displayed the haircuts that customers would receive on their top cryptocurrency holdings and also the coins that were secured. Based on that, Ethereum [ETH] holders will be getting a 100% haircut, with 0% coins secured. However, Bitcoin and Litecoin holders will receive a haircut of 14% and 43%, respectively.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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Coinbase is a huge net positive for not just cryptocurrencies, but for the world, says Bitcoin Cash proponent Roger Ver

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'Coinbase is a huge net positive for not just cryptocurrencies, but for the world', says Bitcoin Cash proponent Roger Ver
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Roger Ver, a well-known Bitcoin Cash influencer and CEO of Bitcoin.com, spoke about the controversy surrounding #DeleteCoinbase campaign, where he stood by the exchange. He also explained the reason behind why he does not consider BTC to be Bitcoin, in an interview with BreakerMag.

Coinbase, a leading cryptocurrency exchange platform, recently made an uproar in the cryptocurrency market over acquiring Neutrino, a blockchain analytics firm. This acquisition resulted in the majority of the cryptocurrency space joining the #DeleteCoinbase movement as the Neutrino team was previously associated with Hacking Team. More so, it was further revealed that the acquisition took place because Coinbase’s providers were selling its data to outside sources.

However, while the majority of the space was chanting #DeleteCoinbase, Roger Ver, on the contrary, spoke in favor of the exchange. On his official social media handle, Ver had stated that the exchange has made a lot of contribution towards driving the adoption of the cryptocurrency space and that space should “be grateful despite a few poor decisions along the way”, adding “Don’t #DeleteCoinbase”.

In the interview, Ver was asked whether Neutrino’s association with Hacking Team did not bother him, and the reason behing why he chose to stay beside the exchange. To this, Ver stated that he was “incredibly troubled” with the association, adding that this was a “really stupid mistake”. He went on to state,



“But people make mistakes sometimes, and I don’t think that it was an intentionally bad mistake on Coinbase’s part. Once they saw the error of their ways, they fixed that. And Coinbase has onboarded millions and millions of people to cryptocurrency. I think Coinbase is a huge net positive for not just cryptocurrencies, but for the world.”

This was followed by Ver speaking about the reason behind his belief that BTC is not Bitcoin. Ver has been previously criticized because of the same topic, so much so that there were people who were considering taking legal action against him. This was because of propagation that Bitcoin Cash [BCH] was the real Bitcoin.

On this, Ver stated there were several people who have called him a “scammer” because of this, adding that there were barely any who was up for an argument, instead of name-calling. He also stated that there was a possibility of him believing that BTC was indeed the real Bitcoin, but stated that there weren’t “any arguments that are compelling at this point”. He said,

“I came to those conclusions based on the logic and reason and evidence and arguments that favored those positions. And if someone wants to try and convince me that BTC is bitcoin, even though it’s not a peer-to-peer electronic cash system, I will listen to those arguments and evaluate them based on their merits.”





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