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This article was published on May 16, 2019

‘PLEASE DO NOT SEND ANY DEPOSITS,’ begs dying shitcoin factory Cryptopia

Some traders missed a very important announcement

‘PLEASE DO NOT SEND ANY DEPOSITS,’ begs dying shitcoin factory Cryptopia
Mix
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Mix

Former TNW Writer

Mix is a tech writer based in Amsterdam that loves cinema and probably hates the movies that you like. Tell him everything you despise about Mix is a tech writer based in Amsterdam that loves cinema and probably hates the movies that you like. Tell him everything you despise about his work on Twitter.

It seems some overzealous cryptocurrency traders didn’t get the memo that exchange service Cryptopia is shutting down – and they’re still trying to make deposits to the platform.

In a tweet earlier today, the embattled exchange warned users not to send funds to the trading platform. The message was written in all caps, so you know they meant it.

It’s odd the exchange hadn’t blocked deposits – especially since it’s going out of business.

For those new to the Cryptopia drama, the New Zealand-based exchange announced it is closing doors and halting all trading in a post on Wednesday, May 15. The company further added it has already appointed liquidators to take care of its remaining assets.

The reason for the shutdown was a debilitating hack, which took place in January and cost Cryptopia $16 million in stolen funds. Although the exchange briefly resumed trading in March, it seems it couldn’t pull through the financial struggles caused by the attack.

“Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders,” Cryptopia said in its farewell announcement.

Unfortunately, chances are the liquidation process will drag on for a while, which means users might have to wait to reclaim any coins they held on the platform.

Anyway, you better find another exchange to gambl… I mean trade – Cryptopia is no longer providing that service.

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