Grant Thornton Recovers Data Belonging to Hacked Cryptopia Cryptocurrency Exchange | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
Grant Thornton, which serves as liquidators for hacked New-Zealand cryptocurrency exchange, Crytopia, recently released an updated report on its activities so far. According to a report on its website on August 21, 2019, the liquidators, among other things, successfully recovered customers’ data that was previously in the possession of a U.S. based third-party service company.
Cryptopia Liquidators to Protect Recovered Cryptocurrency Assets
In May 2019, an Arizona-based server company threatened to erase all the data of all Cryptopia account users. The company also had plans to terminate its contract with the cryptocurrency exchange, and further demanded $2 million from the platform.
However, things seem to have cleared up as Cryptopia’s liquidators, Grant Thornton, stated in a recent update, that they had successfully gained access to customers’ data. The data contained records of customer holdings and some cryptocurrencies.
Grant Thornton added that there was an ongoing collaborative effort with New Zealand authorities to determine the real cause of the January 2019 hack and was also taking preventive measures for the recovered virtual currencies, to avoid a repeat of the incident.
Customers Have no Individual Cryptocurrency Wallets
While the liquidators were able to access customers’ data, the report revealed that the bitcoin exchange company did not store customers’ cryptocurrencies in individual wallets. Instead, the platform “co-mingled” virtual coins in cryptocurrency wallets.
Part of the report reads:
“We are working to reconcile the accounts of over 900,000 customers, many holding multiple crypto-assets,