A Cryptopia hack victim is preparing to sue the liquidator in question Grant Thornton as the tale’s extended liquidation is posed to see new legal action from the major token issuer as we are reading more in the latest crypto news today.
Legal representation for GNY, the company that is focused on artificial intelligence and the issuer of LML, filed a notice to the liquidators’ failure to comply with the duties. Grant Thornton was accused of botching their handling of hacked and defunct cryptocurrency exchange Cryptopia. This notice is the final step before a lawsuit which will only add more to the entangled case for trying to return the funds from a compromised crypto platform.
The hackers accessed the Cryptopia crypto exchange back in 2019 and made off with an estimated $16 million. GNY claimed about $18 million in their claim with the creditors in 2019 and according to the analysts, the company lost about $2.5 million worth of Bitcoin at the time of the claim. Grant Thornton protested previously that the deadlines it faced were unreasonable. A GNY representative explained that the ethic failures on the part of Grant Thornton are worrying that the former was ignoring the creditors in order to fill his own pockets. GNY’s founder described the pursuit as getting a seat at the table saying that Thornton ignored the claims through the liquidation process:
“The biggest problem is they’ve [Grant Thornton] had our claim from the beginning. Our claim predated the liquidation of the company. We’re not expecting that they pay us back. That’s not what happens in a liquidation, but we do expect them to admit the claim. Right now, it sounds like — feels like — they’re trying to pretend that we’re not there.”
The cryptopia hack victim is now preparing to sue Thronton and Wong even wrote that the motivations for filing a claim against the exchange transcended money. He even said that they are not after anyone’s tokens. Representatives for Grant Thornton wrote:
“We understand that this is a difficult time for creditors. However, the allegations made by this creditor have no merit and we fully deny them.” They further cautioned “that it is defamatory to make untrue claims in the public domain.”
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