ShapeShift to 'Optimize' 1/3 of Staff

Old cryptocurrency company is 'overcoming crypto winter' by laying off people in the beginning of the year
10 January 2019   334

ShapeShift, a platform for instant exchange of cryptocurrency, reported on a significant reduction in staff, citing as the reasons the general deterioration of the market situation.

As the head of the company, Eric Vorhees, said, he had to say goodbye to 37 employees with a “heavy heart,” which is about a third of the company's total staff.

According to him, cryptobusiness is a cruel thing. So, in 2017, the market capitalization of ShapeShift increased by 3000% due to the rise of the market, but everything changed very much in 2018.

Eric noted that in addition to the legal uncertainty faced by the industry, ShapeShift does not cope with all the initiatives taken. In particular, he mentioned the CoinCap tracking service and the KeepKey hardware wallet.

It is curious that the head of ShapeShift also admitted that last year’s decision to verify customers had led to a significant reduction in the user base.

Wishing good luck to all the foxes who left the company (ShapeShift symbol), Eric Vorhees expressed the hope that the company would find strength and discipline that would help it overcome all obstacles and come to a victory for the world without borders and an apolitical financial system.

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   65

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.