New Zealand-based crypto exchange Cryptopia, which suffered a hacker attack in mid-January that resulted in significant losses (about $30M in crypto assets), has just been granted bankruptcy protection by a U.S. court.
The business, which is currently in liquidation in the U.S., will now be protected against further claims while it goes through the liquidation process in the U.S.
Apparently, the crypto trading platform still owns around $10M in assets that liquidators are trying to collect in order to distribute them among account-holders.
Grant Thornton New Zealand, the exchange's liquidator, has said that the court order "preserves the Cryptopia account data" and has added:
"Our objective is to protect and to preserve those holdings for the benefit of those entitled to them. We are seeking legal advice about our responsibilities in relation to the various currency holdings."
Cryptopia was founded in 2015 by Rob (Hex) Dawson and Adam Clark. In mid-January a hacker or group of hackers managed to access the funds stored in the platform. The exchange resumed its trading services shortly afterwards amid banking issues, however, it eventually went into liquidation and suspended all its trading operations earlier this month.
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