Founder of Defunct Cryptopia Launches New Crypto Exchange
Landon Manning's original article for bitcoinmagazine.com reduced by 42%
The founder of defunct cryptocurrency exchange Cryptopia, which entered liquidation following a hack in January 2019, has launched a new exchange called Assetylene. The LinkedIn employment history for the founder of the failed New Zealand exchange, Adam Clark, indicates that he's been working on Assetylene since September 2018, which is also when the exchange's Twitter account went live. With fewer than 100 followers, the account is billed as representing "New Zealand's most advanced crypto-currency exchange [sic]." Once a highly prominent exchange in New Zealand, Cryptopia lost nearly 10 percent of its entire liquidity in a hack earlier this year.
Seeing as Cryptopia did not fully close until May 2019, and Assetylene's date of founding is listed in the preceding September, it may be that Clark had moved on to this new business well before Cryptopia's collapse began. For one, an archived copy of the Assetylene site shows that it is based on the TradeSatoshi platform, which can set up exchanges within minutes. Assetylene may very well become a full-fledged exchange with time.
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