Altcoin News: Hacked Exchange Cryptopia Reported Losses

February 27, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Cryptopia cryptocurrency exchange lost about 10% of all its funds due to hacking in January. They now reporting on Twitter:

“We are continuing to work on assessing the impact incurred as a result of the hack in January. Currently, we have calculated that worst case 9.4% of our total holdings was stolen.”

However, they did not specify said what exactly the amount of stolen assets is. But they added that at the moment, preparations are underway to resume work. In this regard, the exchange asks to refrain from making deposits on the old addresses.

Cryptopia was hacked on January 15, stating that it suffered from “security breach which resulted in significant losses.” The exchange did not provide any specific information at that time and has since declared that it cannot comment while the New Zealand police are investigating.

The analytic company working with the blockchain, calculated after the attack, that $16 million in ether and ERC-20 tokens could be lost. It is noteworthy that the hackers still controlled Cryptopia even after the police were introduced, and reportedly stole an additional 1,675 ethers from 17,000 wallets — at that time it cost about 181,000 dollars.

On Wednesday, in its tweets, the exchange stated that it protects each wallet individually in order to ensure its complete security when resuming trade.

Cryptopia also warned: “As a result of the new wallets please immediately refrain from depositing funds into old Cryptopia addresses. We have more updates to come tomorrow, keep an eye on our page.”

Detective Inspector Greg Merton of the New Zealand Police said that the case “is moving well and moving in several directions,” adding:

“The focus is on identifying those behind this offending and retrieving the stolen cryptocurrency. This investigation is expected to take a considerable amount of time to resolve due to the complexity of the cyber environment.”

Author: Marko Vidrih