Vcdragon, a former developer and co-founder of Cryptopia exchange, has released new evidence detailing exactly how Intranel intentionally destroyed the exchange.
Former Cryptopia Developer Spills the Beans
On July 18 @notsofast, a twitter user claiming to be a former developer at Cryptopia, tweeted a link to an article which he claims provides “the complete story of the fraudulent hostile takeover of Cryptopia_NZ by Intranel from its founders Adam and Rob”
According to @notsofast, “Intranel inside-job hacked Cryptopia.”
According to vcdragon, the author of the steemit post, he and Cryptopia co-founder (Adam) began building Cryptopia as a hobby project around January 2014. As the project took form, Adam eventually resigned from his developer position at Intranel.
vcdragon explained that Intranel did not want to lose Adam as an employee and offered the duo a room to rent in their company office. Intranel’s interest continued to grow as the crypto market and exchange took off.
At the start of 2017, Adam and vcdragon felt that they could benefit from the business development support Intranel could provide. vcdragon explained that:
Intranel made us an offer that for 20% of the company they would handle all of the business management and development things like helping with hiring and managing staff, paying tax, lobbying for regulator guidance and all the ‘boring’ business stuff.
The firm also offered to contract 4 of their staff to the developers at a discounted rate and also provide assistance with finding top talent for Cryptopia. It was at this point that the story takes a turn for the worse. According to the lengthy and detailed post, Intranel hired staff for themselves and contracted these newly acquired employees to the Cryptopia founders at “exorbitant rates”.