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  • Cryptopia Rescue

Is the Liquidator now stealing secured assets?

Between all the business of communications for Cryptopia Rescue I have been gathering evidence from the liquidator himself.

Attached are the financials from the 4 reports we have received so far, and also pages 79 and 80 from the liquidators 4th sworn affidavit to the court for the March 2020 hearing.

I have highlighted the key information.

First report, unknown as to what coin holdings the company had. Fair enough it was early days.

Second report crypto assets converted to cash $4.4 million. No other crypto coins listed as company assets. (6 months into the liquidation now and so he would know.

Third report, still shows cashed up crypto assets at $4.4 million, no other coins list. The date on this report was for a period up to May 2020, so after the hearing in March that year.

If you look at the liquidators 4th sword affidavit page 5 item #12 you will see he has listed the accounts recognized as Cryptopias own company accounts. So on this sworn document he clearly has identified all the company owned coins prior to the third report. So it is quite clear at this date around $4.4m of coins is all that belonged to the company.

The 4th report of the liquidator again shows $4.4 million of coins cashed up and no other company coins located and reported for.

The final 2 pages are the company balance sheet as at or about the time of liquidation, after the hack and after the company had ceased trading. These 2 pages are from the liquidators sworn 4th affidavit, they show clearly only $4.1 million of assets. So we could say it is reasonable to agree there had been some movement.

At no point has the liquidator, through his legally required, reports or sworn affidavits disclosed that the company has any more coins to sell.

This can only mean he is selling account holders coins.

Now under NZ trust law he can only sell trust assets under certain circumstances. To our knowledge none of the circumstances required exist. These circumstances would need to be things like, the beneficiaries have voted to dissolve the trust. The trustee in New Zealand does not have authority to just dissolve the trust and distribute assets.

The selling of another 80 bitcoin, we believe is illegal. The bigger concern is that the court, because the liquidator will have requested it, has ordered that his application, affidavit and submission documents are all confidential. WHY? What is there to hide?

If we are going to see justice we have to move very quickly. We have 8 days left to object to the sale and require the liquidator to account.

We need to get a significant number of people supporting Cryptopia Rescue to ensure this happens. People dont need to select a plan or pay anything, just join at this stage to show your support. Later on once we have the liquidator forced to communicate truthfully you can make your decision on best way to settle your coins.

Also please spread the word for us, we are a small team of volunteers so everyones help is needed.

Finally note, these are all the liquidators documents, so read for yourself.

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