Home CryptoNews Companies Cryptopia is criticized by its users for problems with withdrawals of funds

Cryptopia is criticized by its users for problems with withdrawals of funds

Concerned users have reported troubles when requesting withdrawals, after the New Zealand-based Cryptopia adellanted cryptocurrency trading platform began its maintenance process a bit earlier, due to “unforeseen circumstances” on July 9.

Via a brief post in its Twitter account, the New Zealander cryptocurrency exchange warned its users about the emergency shutdown, having nothing to do with the maintenance the company always does routinely, and that it will last 90 minutes. No more explanations were given, except that it was an unexpected issue that requires further investigation.

However, despite suggesting that the situation was controlled, users of the platform started to complain via social media, indicating that withdrawal requests were not carried out or are stuck in the process, even after ending the maintenance, in addition to more problems having received no response whatsoever.

Notably, this just happened the same day that the platform Bancor suspended its operations due to an alleged security that was approached immediately and announced to its users as a maintenance window.

In the afternoon, Bancor explained with more details the eventuality through a press release published in its social networks, where they explained that the security of the platform was compromised with the theft of approximately US $ 23.5 million in crypto assets. However, its users’ funds remained untouched.

Cryptopia trading platform

It is quite common that users of other wallets panic at the first news of this type. Even after being revamped with back up methods and other security protocols, yet they are still vulnerable to these attacks. In the case of Cryptopia, its popularity is due to its support for trading pairs that includes a small array of minor cryptocurrencies, such as DigiByte (DBG), Linda (LINDA) and Electroneum (ETN). Due to this characteristics, the exchange has the 79th spot in the ranking of world’s largest cryptoexchanges of the world when it comes to dairy transactions. Their success has enabled them to launch the “NZed” (NZDT), the first token tethered to New Zealander’s dollar.

Despite its growing popularity and acceptance, this is not the first time it has become the subject of complains in social networks due to its hermetic about problems with the payment procedure. On April, negative comments flooded Twitter and several cryptocurrency blogs, due to exchanges having eliminated several listed coins, even not allowing them to withdraw their funds before the day of delisting.

Besides the unprocessed deposits, other kind of problem discovered was the suspension of ETN withdrawals, the cryptocurrency minable by smartphones. Reports indicated that users suffered great losses, due to not withdrawing their respective funds in time.

Carlos Teodoro
Cryptocurrency enthusiast and everything they represent, Carlos is responsible for writing articles, creating images and belongs to the Crypto Economy team since 2017. He is also in charge of the commercial department, social networks and the revision of translations. Carlos continues to train every day to become an expert in the blockchain.
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