Wanna read an interesting story? Strap in for a wild story about a crypto exchange that grew to be one of the biggest in the world before hacks brought it to its knees!👇 By CMCAlexandria Author: TheCoinPope1 Editor: YousraAASheikh cryptopia BTC
to the New Zealand dollar. It was one of the early attempts to establish a stablecoin in a still fledgling market.
Cryptopia's user base surged from 30,000 users at the beginning of 2017 to one million in December 2017. It grew from two employees to over 50, had, and way over $1 million in volume per day, a massive amount in 2017. In January 2018, Cryptopia hit 1.4 million users. It surpassed the 2 million mark at the end of 2018. However, its astronomic rise was also the reason for its eventual fall.As a consequence of the surge in users, the platform started experiencing technical difficulties. This caused the founders to suspend sign-ups and some trading activity temporarily.
"By the 1st of December, we hit 500,000 users. On the 31st of December we hit 1,000,000 users. By the 3rd of January we hit 1,100,000 users. By the 4th of January, even with registrations disabled for three hours, we hit 1,200,000 users. With registrations paused again we're now sitting at 1,400,000 users.