Grant Thornton Has Published a New Update Regarding Cryptopia Liquidation

The liquidators of the hacked New Zealand’s crypto exchange Cryptopia has released a new update regarding Cryptopia liquidation.

We have undertaken a significant legal process to further secure the crypto-asset holdings. This is a very positive development.
We have obtained Chapter 15 Bankruptcy Recognition in the United States. Now that the Recognition Order has been entered, certain protections apply to Cryptopia and its property within the territorial jurisdiction of the United States. An “automatic stay” is effective and acts as a moratorium in favour of Cryptopia and its property within the territorial limits of the United States concerning pre-petition claims including litigation (whether class action or otherwise), creditor collection efforts with respect to Cryptopia’s assets in the United States, and efforts by contract counterparties to terminate contracts with Cryptopia. 
A similar automatic stay against legal action is also in force under New Zealand insolvency law.

They Also added:

We continue to liaise with our legal advisors to determine how crypto-assets could be returned to customers. However, due to the January hack, this is a complex and time-consuming process. For example, an Exchange that has been hacked cannot simply be reopened. We have certain legal requirements and obligations both in New Zealand and internationally that liquidators must meet, such as Anti Money Laundering/Know Your Client (AML/KYC) requirements when considering any repayment or return of assets.

Most probably this means Cryptopia users who did not fill out KYC won’t be able to recover their coins again. This a really bad move from Cryptopia against it’s users.