Cryptopia Restarts Operations After Hack

By Rishma Banerjee

In January, reports had emerged which said that Cryptopia, which is a New Zealand based cryptocurrency exchange had been hacked. As a result, the firm had suffered severe losses. The hack had been extremely long, involved the police forces, yet there has been no formal statement issued by any authority in power clarifying the amount of money that had gotten stolen.

As per the reports, allegedly, around two and a half million dollars ($2.44m) were stolen in Ether while almost one and a quarter million ($1.18m) were transferred to other wallets. After an investigation by the police and the High Tech Crime Unit, the firm has finally been given permission to begin their operations again a month after the hack.

A police official from the force entrusted with the investigation stated that the main part of the work has been finished and the remaining investigators were “finishing up.” He also stated that the work being done now is in no way hindering the firm from reopening, but the exchange is still down at the time of writing. However, the inspector did not state how much assets were stolen or whether any changes were made to the servers. he has also maintained silence when asked about whether the theft continued once the investigation began.

Meanwhile, some Cryptopia staff members have said that the staff was also depending on the media and police for updates on the matter. The exchange is not online, but a message was displayed stating that the firm had no access to the systems since the investigation begun.

A statement had been issued that the firm will be providing an assessment of the loss when they have proper access and will revert back to the customers. However, hackers behind the act have already cashed out almost three and a quarter million dollars ($3.2m) some of which were liquidated through the exchange EtherDelta.

Rishma Banerjee

Rishma is currently pursuing a bachelor’s degree in International Relations and has a special place in her life for sifting through all sorts of random trivia, thank you very much.

Related Posts