What was the result of Cryptopia's liquidation?

Cryptopia has managed to distribute $225 million to over 10,000 verified account holders, marking a significant milestone in the aftermath of the 2019 hack.

When did the liquidation process begin?

The liquidation process began on May 31, 2021. After a lengthy process, affected users are now finally receiving payouts.

What has been distributed to the users?

The recent payouts have been distributed in Bitcoin (BTC) and Dogecoin (DOGE), as well as plans for further distributions in the future.

What was the original amount lost due to the hack?

Cryptopia lost around $16 million in various cryptocurrencies in the hack in January 2019.

How did the hack affect user morale?

The hack left approximately 1.4 million registered users with a sense of despair and uncertainty about whether they would recover their lost assets. It also contributed to the negative sentiment surrounding cryptocurrency exchange platforms.

What reminder does this liquidation serve for crypto companies?

The liquidation serves as a reminder of the importance of security measures and user trust for crypto companies. They have subsequently implemented several security measures to rebuild trust after the hack, including two-factor authentication (2FA), cold storage, encryption, multi-signature wallets, regular security audits, and bug bounty programs.