Cryptopia’s Founder Launches Another Exchange, Assetylene

By Rishma Banerjee

While the popularity of cryptocurrencies is on the rise, so are illegal activities and the imposition of subsequent regulations to curb said illicit activities are also on the rise. As has been reported earlier by us, Cryptopia recently went offline, following a major hack and then was eventually shut down. Cryptopia estimates a total loss of 9.4% of their total holdings.

However, if recent reports are to be believed, its founder, Adam Clark has launched a new crypto exchange platform.

As per his Twitter and LinkedIn profile, Cryptopia’s founder and former lead developer, Adam Clark, is now the founder of another exchange called “Assetylene,” which either refers to the word asset or is just an unfortunate misspelling on the hydrocarbon gas acetylene.

A new Twitter handle was created for Assetylene in September 2018, having 71 followers on the social media platform. It is also revealed from an early archived copy that it tries to copy another popular exchange, “TradeSatoshi”. However, Clark has clarified that the reason there is a similarity between the two platforms is that he himself used to be a senior developer at TradeSatoshi.

Even though Assetylene boasts itself to be “New Zealand’s most advanced crypto trading platform,” they have zero liquidity on their platform. The exchange as of now does not even appear on CoinMarketCap’ registry. The about section of its also is noticeably blank, as a result of which no other information is available. It is possible that the exchange is still under development, which also explains why there is nothing on the site yet. No other information has been disclosed by Clark or anyone else from the Assetylene team.

Cryptopia was once the biggest crypto exchange in New Zealand, but at the beginning of this month, the company went into liquidation after it lost $23 million in a hack this January.