New Zealand – Crypto Market Insights: Dive In with CryptoUpdate.io https://cryptoupdate.io Latest cryptocurrency news, market updates and analysis Thu, 10 Jul 2025 16:00:33 +0000 en-US hourly 1 https://wordpress.org/?v=6.9 New Zealand to Clamp Down on Crypto ATMs in Anti-Money Laundering Move, Pledges Support for Genuine Crypto Ventures https://cryptoupdate.io/2025/07/10/new-zealand-to-clamp-down-on-crypto-atms-in-anti-money-laundering-move-pledges-support-for-genuine-crypto-ventures/ https://cryptoupdate.io/2025/07/10/new-zealand-to-clamp-down-on-crypto-atms-in-anti-money-laundering-move-pledges-support-for-genuine-crypto-ventures/#respond Thu, 10 Jul 2025 16:00:33 +0000 https://cryptoupdate.io/2025/07/10/new-zealand-to-clamp-down-on-crypto-atms-in-anti-money-laundering-move-pledges-support-for-genuine-crypto-ventures/ New Zealand has made the bold move of banning cryptocurrency ATMs as part of a wider strategy to combat money laundering. While these ATMs can be misused as conduits for transforming physical cash into digital currencies, they also play a crucial role in the global crypto ecosystem, linking retail users across 67 countries via a […]

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]]> New Zealand has made the bold move of banning cryptocurrency ATMs as part of a wider strategy to combat money laundering. While these ATMs can be misused as conduits for transforming physical cash into digital currencies, they also play a crucial role in the global crypto ecosystem, linking retail users across 67 countries via a network of 38,537 machines.

The New Zealand government’s decision stems from the rising concerns over potential connections between domestic criminals and international crypto operations. However, in a somewhat contradictory stance, the authorities have reassured that they will continue to support legitimate cryptocurrency businesses operating within the country.

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]]> https://cryptoupdate.io/2025/07/10/new-zealand-to-clamp-down-on-crypto-atms-in-anti-money-laundering-move-pledges-support-for-genuine-crypto-ventures/feed/ 0 New Zealand crypto exchange Cryptopia gets hacked while in liquidation https://cryptoupdate.io/2021/02/24/new-zealand-crypto-exchange-cryptopia-gets-hacked-while-in-liquidation/ https://cryptoupdate.io/2021/02/24/new-zealand-crypto-exchange-cryptopia-gets-hacked-while-in-liquidation/#respond Wed, 24 Feb 2021 09:00:00 +0000 https://cryptoupdate.io/?p=25 Cryptocurrency exchange Cryptopia suffered a hack in 2019, which led to the loss of about NZ$23 million and has been in liquidation since. However, Stuff.co.nz reported another hack that happened recently and led to the theft of over $60,000 in crypto. According to the source, the funds in cryptocurrency XSN were moved from a wallet […]

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]]> Cryptocurrency exchange Cryptopia suffered a hack in 2019, which led to the loss of about NZ$23 million and has been in liquidation since. However, Stuff.co.nz reported another hack that happened recently and led to the theft of over $60,000 in crypto.

According to the source, the funds in cryptocurrency XSN were moved from a wallet owned by Stakenet, which had been in a dormant state since the previous hack. The source also says that the company did not expect this to happen as the funds were supposed to be in control of the liquidator Grant Thornton that was contacted for comment.

The cryptocurrency exchange started the liquidation process in May 2019. In December 2019, the company’s official liquidator, Grant Thornton, posted an announcement on its website about the creation of the claims portal. Using this portal, clients of the exchange could make claims to recover their funds.

Cryptopia is not the only cryptocurrency exchange that could not recover from a hack. This year, Russian cryptocurrency exchange Livecoin closed down, unable to restore its operations after a hack on Christmas. Hackers allegedly gained control of the organization’s servers and modified the prices of various cryptocurrencies.

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