Skip to main content

Bitcoin.com Exchange Reveals Role in the Cryptopia Rescue Group

Bitcoin.com Exchange Reveals Role in the Cryptopia Rescue Group

The world-class trading platform, Bitcoin.com Exchange announced it’s participating in the Cryptopia Exchange rescue consortium in order to help redistribute coins to customers. Bitcoin.com’s trading platform will provide an exchange environment in order to bolster the Cryptopia Rescue redistribution plan.

Back in January 2019, the New Zealand cryptocurrency trading platform Cryptopia Exchange suffered a major breach and it affected 2.3 million account holders from all around the world. Estimates note that roughly $860 million worth of cryptocurrency was held on the exchange before the hack. Bitcoin.com is pleased to announce that our exchange will assist a rescue program dedicated to helping Cryptopia account holders.

Bitcoin.com Exchange Reveals Role in the Cryptopia Rescue Group

Bitcoin.com Exchange has joined a consortium called the “Cryptopia Rescue” program, and it will produce a platform to distribute coins to Cryptopia Exchange Account Holders. The group formed in order to create a class action against the Liquidator, Grant Thornton.

Victor Cattermole, a Cryptopia Rescue spokesperson said:

The liquidator was proposing to write off more than 50% of the coin holdings. In our alternative plan, we have established a relationship with Bitcoin.com to provide an exchange environment to emulate the Cryptopia model so that all coins can be redistributed.

Currently, the Cryptopia Rescue team is working to connect with as many account holders as possible. The plan is to do everything possible to provide the best resolution to Cryptopia’s former customers. Since launching on September 2, 2019, the premier Bitcoin.com Exchange has provided customers with a professional trading engine combined with top-of-the-line security practices.

Speaking about joining the Cryptopia Rescue effort, Danish Chaudhry, CEO of Bitcoin.com Exchange explained the exchange team looks forward to helping the crypto community.

“We take this role very seriously within the consortium,” Chaudhry stressed. “[Bitcoin.com Exchange] will do everything we can as a united group to provide the best-in-class platform to redistribute Cryptopia account holders their coins via our exchange,” he added.

There are five limitations Cryptopia Exchange Account Holders need to take into account.

  • The Cryptopia trustee is independent of Bitcoin.com Exchange.
  • Claim information is stored only on the trustee’s servers, not on Bitcoin.com Exchange’s servers.
  • Claim information is private between clients and the trustee.
  • Bitcoin.com Exchange is not involved in approving or denying claims.
  • Bitcoin.com Exchange does not determine when claims are distributed.

When the Cryptopia Exchange trustee completes the claim approval process and selects a distribution date, a provided payout support plan for distribution may be added. Customers that have any questions or issues with the Cryptopia claim process will need to contact Cryptopia support.

What do you think about the Bitcoin.com Exchange providing support to Cryptopia account holders? Let us know what you think about this subject in the comments section below.

The post Bitcoin.com Exchange Reveals Role in the Cryptopia Rescue Group appeared first on Bitcoin News.



from Bitcoin News https://ift.tt/35MH288
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more