The closure of DOGEcoin and LITecoin that made Cryptopia RICH

in #cryptopia7 years ago

For years I have have always used Cryptopia for trading.
It was stable, secure and never did me any wrong... until the first week of January 2018.
cryptopia.JPG
With the recent Bitcoin value increase, many people decided to turn to smaller currencies to invest and trade with with like DOGEcoin and LITecoin which made Cryptopia an attractive option.
Cryptopia still boasts that they have 933 trading markets, which surpasses any other exchange for having the most.
Without any warning, on Jan 6, 2018 Cryptopia decided to close their DOGE and LIT markets, leaving many with no options to trade, or stuck with coins they invested in or coins like Slothcoin, Penguincoin and others that have been considered "dead" for years.
closed.JPG
No one will ever know the full magnitude as to how many DOGEcoins were lost.
Some wallets are "under wallet migration" or "wallet maintenance" making withdrawls impossible. Whether or not these wallets will ever be updated so that users can withdraw their money is a mystery (as I personally have about 7 million CyberFunk coins that can not be obtained).
walletmigration.JPG
Messaging anyone for support at Cryptopia is futile as their support network is perhaps unable to handle the outcry from their recent decision and unmanned perhaps. The owner(s) of Cryptopia are now crypto millionaires now as many peoples DOGEcoins and LITecoins have been locked away into other currencies that are either dead or have no options to trade them... or even worse, they won't update a wallet or make it accessible to their users.

They have many people's money as well as my own. They are not giving it back. They seemingly have no plans to do so either.
Any support they have offered is in reality, "unavailable".

Some of the coins that were offered on Cryptopia can be found on the Russian exchange yobit.net.
Here is my experience: There is an option on Yobit.net for Leafcoins, but when I attempt to deposit them into their wallet, a message prompts me to try again in 2 mins as "no Leafcoin wallets available at this time".
Moving forward.....
They have a Cyberfunks wallet. However, Cryptopia has decided to keep those coins as their is NO withdraw option due to a wallet Migration that occurred on Dec 24th 2018, weeks before they closed the DOGE and LIT markets.
I have learned that most of the currencies I have on Cryptopia can no longer be obtained despite the fact they "belong" to me.

Stay away from Cryptopia folks... unless you want to lose. They owe many of their users money and they acknowledge this by instructing users to cancel all orders and withdraw all currencies.... if only that was a real option. A trip to the planet Marrs would be a more realistic offer at this point.

Sort:  

Thank you for sharing this information.

I think people should know.

Congratulations @laconiclies, you have decided to take the next big step with your first post! The Steem Network Team wishes you a great time among this awesome community.


Thumbs up for Steem Network´s strategy

The proven road to boost your personal success in this amazing Steem Network

Do you already know that awesome content will get great profits by following these simple steps, that have been worked out by experts?

Coin Marketplace

STEEM 0.16
TRX 0.15
JST 0.028
BTC 58058.49
ETH 2284.09
USDT 1.00
SBD 2.51