Gatecoin to Cease Operations Due to Court Decision

Exchange faced a situation in which it was unable to fulfill its obligations, and on March 13 the court decided to start immediate liquidation
15 March 2019   199

Hong Kong cryptocurrency exchange ceased operations by a court decision after an unsuccessful attempt to return funds in a dispute with a payment provider. The corresponding statement is posted on the official website of the platform.

Gatecoin Statement
Gatecoin Statement

It became known earlier that Maltese banks refuse to open their accounts to cryptocurrency services due to “high risks”.

Cryptopia to Provide New Info Regarding Compensations

The exchange isn't going to refund deposits, sent more than 24 hours after the security breach
25 March 2019   15

The New Zealand cryptocurrency exchange Cryptopia provided additional information regarding the procedure for paying compensation to users who suffered from a hacker attack in January.

According to today's announcement, users who have made deposits to their addresses more than 24 hours after the company reported the incident, that is, after 16/01/2019 12:00AM NZT , will not be able to claim payment in accordance with the previously announced plan.

The Exchange also draws attention to the fact that it currently does not have a specific deadline for returning assets to users to whom such payments are due. Cryptopia addresses are still not available for deposits, so users shouldn't try to transfer funds to them until further notice. After the renewal of deposits, clients of the exchange will need to regenerate the purse addresses for each of the supported cryptocurrencies.

As analysts noted, the funds withdrawal continued even after the official announcement and the start of a police investigation.