Altcoin News: QuadrigaCX and Cryptopia Users Lost Their Money on the Same Day
May 29, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
Users of the QuadrigaCX and Cryptopia cryptocurrency exchanges, who by coincidence were customers of both trading platforms at once, lost funds deposited by them on the same day, Decrypt draws attention.
Cryptopia fell victim to a hacker attack on January 14 and stopped the withdrawal of funds. The same day, the death of Gerald Kotten, QuadrigaCX’s CEO, was announced, according to official information.
Traders said, that before, withdrawals took place slowly, but was possible and after the above-mentioned news withdrawals were stopped completely.
“The moment I knew that Quadriga wouldn’t let me withdraw my coins, I tried to log into my Cryptopia [account] to withdraw my coins ASAP, so the same thing wouldn’t happen,” said Ida, a Canadian crypto trader. “But it was already too late. It got hacked on the same day. Many people I know also had the same experience.”
Two weeks later, Quadriga appealed to the court for protection against the claims of creditors. Cryptopia this Monday filed for bankruptcy in the United States. In the case of the latter, however, users had a chance to partially return their money during the re-opening of the exchange for a short time.
As Decrypt notes, QuadrigaCX and Cryptopia had several prominent features: an abundance of altcoins on platforms, work outside the legal field and problems with banking services that arose at a certain stage, which significantly complicated the work of exchanges.
In addition, now representatives of both companies are trying to appeal to the traditional legal system, trying to get rid of the burden of their previous activities. Recently there was also a piece of information that the founder of Cryptopia intends to open a new trading platform.
Author: Marko Vidrih
