Chaincreator Exchange Offers to Buy Cryptopia and Save User’s Funds from Impending Liquidation

It has been revealed today that Chaincreator, an Estonia based crypto company has approached the liquidators of recently insolvent crypto exchange Cryptopia with an offer to purchase. Chaincreator has reportedly ‘made official contact with the liquidators, where it has manifested its interest in the purchase of the liquidated company.’

Grant Thornton took control of liquidation proceedings following the closure and announcement by Cryptopia on May 15th 2019. Since then, numerous crypto communities have started several petitions and online forums in a bid to reclaim the large number of crypto-assets that were lost on the exchange.

With little clarification from New Zealand authorities and minimal communication from the liquidators, it started to appear that all might have been lost. Today’s Chaincreator news will be warmly received by all those who have been affected by the Cryptopia problems, especially for those projects who used the exchange as their sole listing.

If successful, Chaincreator aims to return as many assets as possible back to Cryptopia debtors. The company also has plans to reincarnate the liquidated exchange in the form of a DAO (Decentralised Autonomous Organisation), returning it back to the community as a fully decentralised platform through a voting system.

Playing a pivotal role in the latest developments is Community Management & Development company, THE COLLECTIVE. The company has worked closely with Chaincreator since the Cryptopia closure in order to aid all those affected. THE COLLECTIVE has been reaching out to community and company executives across the industry in order to secure funds for users.

CEO Dominic Bacon of THE COLLECTIVE said in a statement exclusive to bexSTREET:

We have actively been reaching out to as many of the companies and their communities as possible in order to assist with matters for those affected by the Cryptopia hack and ultimately their liquidation. With The Collective partnered with Chaincreator we are positioned well to improve the situation drastically.

The 11th hour purchase offer by Chaincreator is testament to an industry that has continued to rally against these security breaches especially when so many communities have been affected. Grant Thornton have yet to comment on the offer.

Leave a Reply

Your e-mail address will not be published. Required fields are marked *