Cryptopia liquidation follow-up: total assets of 1.7 million US dollars, the liquidator needs to consult the court to pay the arrears

Cryptopia Clearing Company Grant Thornton needs to seek legal advice from the court on how to pay the customer's arrears in cash, as there is no legal precedent in the world. Liquidators David Ruscoe and David Ruscoe from Grant Thornton report that Cryptopia currently owes more than $4 million and total assets of $1.7 million. This week, the court issued an order allowing them to use the bitcoin held by the company to fund the liquidation. Earlier, Grant Thornton issued a liquidation report showing that Cryptopia owed 69 unsecured creditors more than $2.1 million in debt and secured creditors had more than $1.4 million in debt. In addition, the company owes employees unpaid wages, holiday pay and unsecured debt of nearly $600,000, and the number of unsecured creditors is expected to increase. Cryptopia has filed for US bankruptcy protection after a $16 million loss from hacking in January.