Cryptopia exchange kept users’ cryptos in pooled wallet: liquidator

According to Grant Thorton New Zealand, the firm overseeing liquidation of collapsed crypto exchange Cryptopia, the way the exchange managed customer funds is making it difficult to determine customer holdings. As a centralized exchange customer funds were pooled, meaning that individuals did not have wallet addresses to identify their holdings. Furthermore, Cryptopia never reconciled its customer database with funds actually held in wallets meaning that Grant Thorton must manually match the database with any assets left at the exchange. Police have been unable to identify the source of the January hack that caused the exchange to collapse.