The country´s financial regulator believes the company is operating a digital currency-based scam.
New Zealand-based crypto exchange Cryptopia was likely in breach of its compliance obligations in the run up to being hacked.
Grant Thornton New Zealand spelled out the difficulties that remain in identifying the ownership of the cryptocurrency.
New Zealand police nabbed over $4 million in crypto from a software developer who operated an illegal movie streaming site
Earlier this year, the Cryptopia cryptocurrency exchange in New Zealand was hit by a massive attack that reportedly saw it lose $15 million in held funds.
Cryptopia’s role as an exchange for the desperate is becoming clear as its liquidators beg the U.S. to help them out.
The new exchange, known as Assetylene, has been developed by Adam Clark—the founder and lead programmer behind Cryptopia.
Customers of the debt-ridden New Zealand exchange will have to wait until the investigation into the hack is completed before they can get their assets back.