Cryptopia Exchange Kept Users’ Cryptos in Pooled Wallet: Liquidator

The assigned liquidator for the collapsed New Zealand-based cryptocurrency exchange Cryptopia says it’s making progress in determining customer holdings, but that the management of user funds by the exchange has caused delays.

Professional services firm Grant Thornton New Zealand was assigned to oversee the liquidation process in May, after the exchange had failed to recover from a major hack in mid-January.

In its latest update on Wednesday, Grant Thornton provided some good news, saying that it had managed to retrieve Cryptopia data that was stored in a third-party data center in Arizona. The liquidator previously filed for bankruptcy protection in the U.S. in order to protect that data, as the Arizona firm was in dispute with Cryptopia and was seeking $2 million in compensation.

Grant Thornton also provided an insight into the way the exchange had been managed, listing two primary reasons it has taken so long to find out which and what amount of…