Opinions

Exchange ‘Cryptopia’ Suffers Losses From Hack

The award of being the first crypto-hack victim of 2019 goes to Cryptopia, a New Zealand-based crypto exchange.

Yesterday, Cryptopia tweeted that the exchange was going through some “unscheduled maintenance.” This excuse kept on for the rest of the day before the exchange decided to let the world know that they were hacked.

Then, finally, the announcement came. A significant amount of assets had been taken away from the exchange. Following the standard protocol, government agencies were notified and are currently looking into this matter. Till further notice, the exchange has gone into ‘maintenance mode’. The website hosts a similar banner.

Cryptopia Maintenance
Exhibit — The official notification of the hack.

Through a bit of internet sleuthing, BlockPublisher tracked a large transaction from Cryptopia to an unknown wallet. $1,176,596 of stolen funds [?] from the victim to the hackers?

This is the first one from the bad guys. Brace for many more.

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Photo by mahdis mousavi on Unsplash

Sarim Mehmood

An electrical engineer to be. Sarim is a blockchain & crypto enthusiast and an early investor in ETH and Ethereum based projects. Contact the editor at editor.opinions@blockpublisher.com