Cryptopia, the exchange based in New Zealand that recently got hacked, posted an official update on March 17th, expressing its plans to resume trading on the platform and that this will be done by the end of the month. In that case, let’s find out more about their decision in today’s digital currency news.
In their post, you can read that the co-founder of the exchange Rob Hex Dawson is strongly dedicated to reopen the exchange and to make trading available for the users. He provided the users of Cryptopia with all of the needed data about the ongoing reboot process as well as many recommendations on how to interact and operate with their accounts.
Cryptopia initially re-launched their website on March 5th after the platform provided the public with their balances data since the hack that happened on January 14, 2019, until today. The exchange gave a lengthy explanation that the updated website can be used to reset the passwords and the two-factor authentication credentials.
In the announcement, Cryptopia also provided many details on how the entire process will happen for all of those customers who lost their funds after the $16 million hacks by also adding that the exchange is working hard to make sure that the process is compliant with the laws.
Hex explained that the users who lost their funds will see a section in their account with the sign ‘’Withdraws on your account for those coins’’ and explained that the transactions IDs for all the withdraw orders won’t exist on the network.
For every withdraw order made, the users will see a subsequent deposit of the Cryptopia Loss Marker named TXID- or short for lost coins which will also not be represented on the network. Hex said that the CLM is not a coin but represents the amount of each coin for each user in New Zealand dollars.
Per the reports you can also read that the founder of the exchange also said that the users will be able to cancel their orders via the website will the API is disabled. The exchange warned the users strongly, to refrain from depositing funds into the old addresses.
After the huge Cryptopia hack, the exchange stated that they will not start trading until they are 100% sure that they can secure the users’ balances.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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