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Cryptopia, a New Zealand-based cryptocurrency exchange, has shut down and announced its liquidation.
In January, the stock market suffered a security breach in which millions of dollars were stolen. Despite the loss, management thought it could reduce costs and bring the company back to profitability.
Before the announcement, the exchanges were down for hours when the site published a notice titled "Do not panic! We are currently in maintenance. Thank you for your patience and we apologize for the inconvenience. "
Elected liquidators David Ruscoe and Russell Moore of Grant Thornton New Zealand are securing assets for stakeholders.
The press release indicated that customers and suppliers will be contacted shortly in the coming days. However, it may take a while before there is a lot of clarity.
"Given the complexity of the procedure, we anticipate that the survey will take months rather than weeks."
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