New Zealand Crypto Exchange Cryptopia Hacked

Cryptopia, New Zealand based cryptocurrency exchange has gone offline calling a major hack. The cryptocurrency exchange took onto official twitter handle to declare that the exchange has suffered a security breach that took place on January 14, 2019. Once the infringement was recognized, the exchange was put under maintenance to stop and evaluate the loses that had occurred.

The exchange tweeted:

pic.twitter.com/0ZwqFfwwHi

First Hack of the Year 2019

Trading has been halted and the website will be under maintenance until the problem is fixed. The tweet unveiled that the security breach occurred in “significant losses,” but the precise amount of the cryptocurrencies lost weren’t clearly declared. Once Cryptopia’s C-suite and top executives discovered about this adverse event, an instant transfer to preservation was considered significant, as staff “assessed damages.” This hack is the first hack of the year 2019.

Transaction

The amount stolen is not known to the people, and it is conceivable that the exchange itself has yet to decide the amount that was stolen. However, an extensive amount of 19,391 ETH (approximately $2.5 million) was freshly shifted from Cryptopia to an anonymous wallet, which might assist as evidence of the stolen amount. The statement issued by Cryptopia was almost hazy, with not a lot of details, which has left people puzzled and annoyed about their funds. Many are expecting that the exchange has held the bulk of the funds in cold storage, although this is not confirmed.

Just a few days ago, AurumCoin (AU), a little-known cryptocurrency whose management describe themselves as the ‘The first distributed open source cryptocurrency to be backed by gold’ had claimed that it has become a victim to a 51% attack. In this, Cryptopia, the crypto exchange where the cryptocurrency is listed, lost 15,752.26 AU. However, AurumCoin pointed fingers at the exchange, blaming Cryptopia. On the website, the team had published a disclaimer that stated that it is not responsible to anyone since it is an open-source distributed currency.

Disclaimer: This information should not be interpreted as an endorsement of any cryptocurrency. It is not a recommendation to trade. The crypto market is full of surprises and overhyped assets. Do your research before buying anything. Do not invest more than you can afford to lose.

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