Cryptocurrency Exchange Cryptopia Files for Bankruptcy - Forex News by FX Leaders

Cryptocurrency Exchange Cryptopia Files for Bankruptcy

Posted Tuesday, May 28, 2019 by
Arslan Butt • 1 min read

Leading cryptocurrency exchange Cryptopia has filed for bankruptcy protection in the US following a severe hacking attack in January 2019. A bankruptcy court in New Yoek has granted Cryptopia an emergency motion for provisional relief till June 7.

Cryptopia had suffered significant losses in the January hack and experienced banking issues following the hack. Although, the exchange had resumed trading services shortly thereafter.

However, in early May, the company went into liquidation and suspended trading operations. According to estimates, nearly $16 million was lost in the hack.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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