Crypto has restored one third of the wallets, gearing up for relaunch

cryptopia getting ready to relaunch the platform

The cryptocurrency exchange based out of New-Zealand, Cryptopia, is preparing for a relaunch after being hacked two times in January 2019. While getting ready for the launch, the exchange firm tweeted that they have successfully secured possession of thirty five (35%) percent of the coins on new wallets in the crypto market, stating that they acknowledge the significance of completing this task before relaunching the exchange.

This announcement came as an effort to compensate for the losses incurred by the exchange as a consequence of the hacking incidents in January, with the introduction of an additional feature for customers to cancel any order, if they change their mind. This addition was warmly embraced by the users and the firm stated that the they had added this feature so as to facilitate their users for the cancelation of any standing order.

With this move, users are now able to remove sell or buy orders still available on the system since January, and the feature is considered significant in avoiding the sale of crypto assets at lower than their current market rates.

Prior to making the announcement regarding securing 35% coins in the new wallets along with the addition of this new feature, Cryptopia declared relaunching of the website as a read-only platform.

The firm also announced to their customers the baseline used for calculation of rebates would be the holding balance before the hacks took place. They also requested users to reset their 2FA credentials along with their passcodes.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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