Liquidated Cryptopia Founder Launching New Exchange

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New Zealand cryptocurrency exchange, Cryptopia, having been hacked early in the year, recently announced that it had entered bankruptcy. Now, Adam Clark, founder of the now defunct exchange, is working on a new exchange called Assetylene.

Clark’s LinkedIn page shows that he has been working on the new exchange for almost 10 months. Clark stopped working at Cryptopia in February 2018, well before the hack took place.

The Cryptopia hack saw $16 million stolen and reports of the exchange entering liquidation began petering out on May 15. Grant Thornton, the appointed liquidators, said,

We realise Cryptopia’s customers will want to have this matter resolved as soon as possible. We will conduct a thorough investigation, working with several different stakeholders including management and shareholders, to find the solution that is in the best interests of customers and stakeholders.

Assetylene is clearly an effort in the works and perhaps it, like the many other exchanges that are just beginning to launch, will have learnt some lessons from the hacks that have occured in recent times – like Binance CEO Changpeng Zao said following its $40 million hack.

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