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  • Cryptopia Rescue

Liquidator has no tech staff

Sources inside Grant Thornton advice us that a week after the hack of cold wallets the technical staff are no longer showing up for work. Its not clear at this stage as to whether they left or they pushed? Are they on paid leave pending the criminal investigation of the hack or what the situation is.

Cryptopia Rescues concern is that the Grant Thornton became aware of the hack from a 3rd party (Stakenet) outside of the whole liquidation team. That leaves a mountain of questions and as usual the liquidator is saying nothing.

The obvious concerns are:

1. Clearly the liquidator had no systems in place to monitor that status of the assets in his care. New Zealand law for trustees (which is the role the liquidator is filling) are very strict on this and the legal implications are serious.

2. If Grant Thornton only became aware of the hack once the hackers got to XSN coin, what other coins had already been taken?

3. We know that there were over 5,000 BTC in the liquidators possession, and movement of those is unlikely to be picked up by an outside source. At todays rate, that’s around US$250,000,000 that could be lost.

4. As always the liquidator is not communicating.

Cryptopia Rescue has formally offered on two occasions to work with the liquidator to provide a settlement solution for account holders, but the liquidator has refused to engage.

Now it is reasonable to say helping the liquidator or saving him from himself is looking like a far more difficult task.

The corner we are all finding ourselves in is forcing us more and more towards one of litigation for negligence against the liquidator than a likelihood of getting many coins back.

Next step for Cryptopia Rescue is to file legal proceedings to get the court to approve our settlement strategy for account holders. The legal team are working through all of the process now. In addition we are working on Government intervention to bring transparency and accountability to this liquidation process.

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