Cryptopia Founder Launching a New Crypto Exchange

Image from assetylene.com.

Adam Clark, the founder and programmer of now-defunct cryptocurrency exchange Cryptopia, is apparently trying to launch a new crypto exchange off the ground.

The new exchange, called Assetylene, is being billed as “New Zealand’s most advanced crypto trading platform.” According to Clark’s LinkedIn profile, he has been working on Assetylene as the platform architect and lead developer for the past nine months.

The Assetylene website is currently just a shell with no market data, trading data, or even a proper about page yet. The exchange is reportedly running on the TradeSatoshi turnkey exchange software which lets just about anyone create an exchange in a few minutes.

A second chance

Cryptopia officially went into liquidation earlier this month after suffering through a major hack in 2018 that cost the exchange $16 million worth of lost crypto assets. The liquidation process is expected to take months to complete.

The Cryptopia website has since been shut down, with only a press release regarding the liquidation left on the home page.

Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders,” reads the press release.

Clark’s LinkedIn profile suggests that he has not been actively working on Cryptopia since February 2018.