Look Who's Back! Jonathan Ganor 2019-05-22 09:05:04 569 views

Cryptopia Founder Launches New Exchange

Cryptopia has made a lot of headlines recently for all the wrong reasons. The exchange shocked traders when it surprisingly announced its liquidation. Despite Cryptopia's claims that all funds are safe, traders are still waiting for their funds and voicing their concern.





So far it seems that client funds have not been returned and no timeframe for a refund has been set.

Cryptopia 2.0?

Strangely enough, despite the scandal surrounding Cryptopia, Cryptopia's founder, Adam Clark launched a new exchange. The new exchange, called Assetylene, launched just days before Cryptopia's liquidation.

Assetlyne's beta began towards the end of September and appears to currently be live. Despite this, it has yet to be listed on coinmarketcap and some of its interior pages are broken. This includes the "about us" section and "support".

Cryptopia's sudden collapse led to a void of such to many traders in New Zealand and the world. Assetlyne might be looking to replace Cryptopia as New Zealand's leading exchange.

Trustworthy?

As per Adam Clark's LinkedIn page, he worked at Cryptopia as CTO since its foundation until February 2018. This is roughly a year before the infamous Cryptopia hack, which caused the equivalent $16 M in damages. Since 2018 he apparently worked for tradesatoshi & Chainstack.

Pinning the blame of the hack on Adam would be entirely unwarranted as he was not part of Cryptopia for a year before the hack. Despite this, would you trust an exchange whose CEO was previously a CTO at an exchange that suffered a catastrophic breach?





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