Major Victim of Cryptopia Hack Prepares to Sue Liquidator Grant Thornton

[Goodcat49]

The tale of hacked exchange Cryptopia’s extended liquidation is poised to see new legal action from a major creditor and token issuer.

Major Victim of Cryptopia Hack Prepares to Sue Liquidator Grant ThorntonNEWS

On July 21, legal representation for GNY, a firm focused on artificial intelligence and the issuer of LML, filed a final notice of liquidators’ failure to comply with duties. The liquidator in question is accounting firm Grant Thornton, which GNY accuses of botching their handling of hacked and defunct crypto exchange Cryptopia.

Such a notice is the final step before a lawsuit, which would add to an already entangled case of trying to return funds from a compromised exchange.

The hack and the drawn-out distribution of funds
Hackers accessed New Zealand-based crypto exchange Cryptopia for two weeks in January 2019, making off with an estimated NZ$23 million (or USD $16 million).

GNY claimed NZ$27,228,202.35 (roughly USD $18 million) in their claim with creditors last year. According to analysts, the firm lost somewhere in the vicinity of 492 Bitcoins (BTC) — $2.5 million at the time of the claim, but $4.5 million as of press time.

Grant Thornton, for its part, has protested in the past that the deadlines it faced in the case were unreasonable.

https://cointelegraph.com/news/major-victim-of-cryptopia-hack-prepares-to-sue-liquidator-grant-thornton