Cryptopia, the New Zealand-based cryptocurrency exchange that was the target of two hack attacks in January, is gearing up for relaunch by taking new steps. In what could be a novel development for a cryptocurrency exchange, Cryptopia announced on 11 March, the option for users to cancel orders. The exchange tweeted,
“As we work towards full re-launch of the platform, we have now enabled the ability for users to cancel their standing orders. The API is still disabled, so you will need to cancel through the website.”
The exchange followed the announcement with another tweet which gave users the option to cancel all orders in one go. The option to cancel orders will enable users to remove and buy or sell orders that are still open on the system from January 14. This would be hugely beneficial for users as most cryptocurrencies have seen big jumps in their prices and people could still have high or low buy and sell orders.
“If you want to cancel all orders in one go, this can be done from the account page under the Open Trades section: https://cryptopia.co.nz/Trades”
Previously, the exchange had announced the reopening of the website in read-only form and informed users that the pre-hack holding balance would be used as a baseline for calculating rebates moving forward. The users were asked to reset passwords and 2FA credentials.
This opportunity to cancel orders is a prerequisite for the exchange to avoid the sale of any cryptocurrency below its current price. Users praised the exchange for maintaining transparency after the hacking episodes in January.
Twitter user @JBTheCryptoKing commented,
“The amount of transparency and communication by your team is thoroughly impressive . Most thought it was an exit scam and you’ve manage to surprise us all. We will be here trading on Cryptopia 2.0. “
However, another user of Cryptopia’s platform, @btcsnippers had a completely contradictory view,
“transparency for real thats the word you are going to use ? how about not updating their front page for a month and a half. only communicating through twitter .. transparency really .. ill be happy when I get my money out.”
The exchange will have to tackle many such issues, including keeping hackers at bay, to regain the trust of its many users.
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