Cryptopia Hack Victim Planning Legal Action Against Liquidator Grant Thornton

Cryptopia’s key creditor and token issuer, GNY, is planning to take legal action against Grant Thornton. Recently, legal representation for GNY, a firm focused on AI and the issuer of LML, filed a concluding notice of liquidators’ non-observance in fulfilling the obligations.

Recently, a representative for GNY cited ethics failures on the part of Grant Thornton. The company’s representative further mentioned that the firm was apprehensive that the appointed liquidator was disregarding creditors in the interests of stuffing its own pockets.

The founder and CEO of GNY, Cosmas Wong described the quest as more about receiving a seat at the table, mentioning that Grant Thornton had overlooked GNY’s prerogative throughout the liquidation process. He mentioned:

“We’re not expecting that they will pay us back. That’s not what happens in a liquidation, but we do expect them to admit the claim. Right now, it sounds like — feels like — they’re trying to pretend that we’re not there.”

Notably, the hack of crypto exchange Cryptopia was the first in a widespread series of cybersecurity breaches in 2019. The regulation behind how to allocate assets of an unsuccessful digital asset exchange remains undecided.