The Cryptopia exchange is a currency trading platform which allows users to deposit, trade, and withdraw Bitcoin, Litecoin, and over 400 other crypto currencies. The users of the platform have always been able to convert New Zealand dollars to crypto by despositing to NZDt, and trading it for the coins.
On January 30 Cryptopia exchange announced that their current bank has notified them that they intend to close Cryptopia's NZDT account on February 9. Due to that Cryptopia had to announce an immediate halt to NZDT deposits from COB. The cryptocurrency exchange recommended its users to stop sending NZD deposits to their NZDT account.
We will be taking the site offline for scheduled maintenance at 3:30 NZT for an estimated twenty minutes. #useyourdowntimewisely
— Cryptopia Exchange (@Cryptopia_NZ) 31 January 2018
Cryptopia claimed that it will continue to send withdrawals until February 9, placing a significant sell wall on the BTC/NZDT market to enable any users currently holding NZDT to convert it to BTC.
Cryptopia exchange hopes to be able to resolve the issue prior to February 9 with either an extension from their current bank, or an alternative solution to ensure that the users can continue trading using NZDT.