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Cryptopia: New Zealand Court grants 10 extra working days to present its first liquidators report

Priya

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Cryptopia: New Zealand Court grants extra 10 working days to present its first liquidators report
Source: Unsplash

Cryptopia, the defunct New Zealand cryptocurrency exchange, announced that there was an update with regard to the first liquidation report. The exchange stated that the New Zealand Court grated the platform ten extra days to present the report, with the date now scheduled to 4th June 2019.

The exchange stated on its official Twitter handle,

“The New Zealand Court has granted a 10 working day extension on the initial Cryptopia Ltd Liquidators report. It is now due on 4 June and will be available on the New Zealand Companies website when it is submitted”

Sean Crypto Phillips, a Twitter user stated,

“I hope that the liquidators understand that the coins are funds held in trust, not general assets of Cryptopia, so should be returned in full and without conversion. Also, I will be interested in any news of recovery from amounts sent to Huobi, although my balance was intact.”

Currently, the exchange’s website continues to be under maintenance, with the site displaying the press release pertaining to the liquidation process. According to that announcement, the liquidation process is handled by David Ruscoe and Russell Moore, representatives of Grant Thornton.

The exchange had decided to take this path because of the security breach that occurred earlier this year in January. Notably, the exchange fell victim to two attacks with the hacker gaining control over all of its Ethereum funds. At present, “the liquidators are focusing on securing the assets for the benefit of all stakeholders.” The investigation conducted by Grant Thornton was reported to take months instead of weeks, with the first report set to be released in the coming month.

Aside from this, the exchange also made headlines when the attacker had started to move the stolen Ethereum funds to different wallets and exchanges, which includes Huobi and EtherDelta. Huobi, a leading centralized exchange, released a statement concerning this incident on its official social media handle. The platform stated that the stolen funds were automatically detected by its system, following which it was immediately frozen.





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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, HitBTC, WazirX report Cloudflare outage issues

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Source: Unsplash

The world’s leading cryptocurrency exchange, Coinbase, reported experiencing intermittent access issues which was traced to a Cloudflare outage. In a blog post, Cloudflare reported that it observed network related issues on Monday morning.

The support team revealed that Cloudflare identified a potential “route leak” which affected some of its IP ranges, shortly after the news broke out on mainstream media. The issue was solved in less than two hours after the network responsible for the route leak was fixed, the official blog post said.

Around the same time, Indian cryptocurrency exchange, WazirX, also reported access issues across its website and apps. The affected companies also included HitBTC, the Hong Kong-based exchange which also reported difficulties in their web interface.

HitBTC noted,

“Half the internet is experiencing the same issues since the cloudflare and many internet routes appear to be down.”

After resolving the issue, Cloudflare, which is a US-based content delivery network service, stated,

“Traffic levels have returned to normal now that the route leak has been fixed. We are now marking this incident as resolved.”

Most of the affected sites showed an error which said, “Connection timed out.” Cloudflare has not revealed the name of the network involved as of yet. It is also unclear if all the affected websites had started operating normally. A myriad of websites including Overcast, Discord, WP Engine,  Sonassi, Feedly, Crunchyroll among many others that completely rely on web hosting or who partner with Cloudflare for their CDN service, were also affected.

The affected areas can be seen in the picture below.

Source: Cloudflare





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