Cryptopia Hacked via a security breach. Cryptopia has suffered a hack yesterday. Cryptopia, a lesser-known cryptocurrency exchange, usually focuses on smaller-cap assets. Cryptopia handles roughly $1 million of digital assets via trades every day.
Cryptopia has revealed that the security breach has resulted in “significant losses.” The exact number of the cryptocurrencies lost weren’t explicitly stated. Once Cryptopia’s C-suite was notified about this security breach, an immediate shift to maintenance was deemed essential as staff “assessed damages.”
With further research, Cryptopia’s staff, located in New Zealand, contacted appropriate channels for recourse, including the local police force and a “high tech crimes unit.” The aforementioned police force and tech crimes unit is currently working hand-in-hand with Cryptopia to fix the “major crime.” Cryptopia explained that until an investigation is complete, the platform will remain in maintenance, with trading suspended. Cryptopia said:
“We are committed to getting this resolved as quickly as possible and will keep you all updated every step of the way.”
Prior to the announcement of the hack, Cryptopia explained that they were “experiencing unscheduled maintenance”, hinting towards acting against a hack.
The crypto-community has reacted, with Whale Panda saying
“Looks like @Cryptopia_NZ got “hacked” Cryptopia used to be very popular at one point but has since then become mostly irrelevant” – WhalePanda (@WhalePanda) January 15, 2019
Cryptopia was extremely popular with ambitious and traders who relished risk to trade lesser-known cryptocurrencies seeking out 20x rallies.
The news of the hack has had little to no effect on the Bitcoin price.
Exchanges and crypto companies are announcing troubles left and right. Bitmain announced even more closures, this time their Amsterdam office. The consensus with crypto enthusiasts is viewing Cryptopia’s security breach with reservation. This bear market is affecting companies and exchanges. We’re determined not to make the same mistakes. Have you taken a look at our new website and our new products? Read a little more about our updates by clicking here. Let us know what you think on our Facebook Page!
