Following Cryptopia Hack, Binance Freezes Stolen Crypto Transferred By Hackers

By Prashant Jha

A few days ago, we told you how New Zealand crypto exchange CryptoPia had gone offline after a major hack. Now, it seems that this high profile hacking incident may have been somewhat brought under control, although not entirely, as Binance has frozen some of the stolen crypto coins to cut off the hackers.

The Cryptopia hack had been a major news headline across a number of crypto news media outlets, once again worrying crypto insiders and enthusiasts about the rampancy of cryptocurrency scams.

As it received a great deal of traction on social media and otherwise, crypto users and members of the Twitteratti went into a tizzy when they heard of this news.

Naturally, this news did not take long to reach Binance, who immediately set out to make sure further damage could be avoided.

Surprisingly, the hackers took the risk of sending some of the stolen holdings into Binance, which is easily recognized as one of the most reputed and credible exchanges in the sector.

Why a group of scamsters would choose Binance despite knowing about its commitment to scrupulousness has baffled Binance CEO Changpeng Zhao as well.

He tweeted:

Changpeng Zhao was replying to a tweet from @ShaftedTangu (Dream of Alts) which said:

While Cryptopia has admitted that the security breach had cost them a substantial amount of holdings (as Ethereum worth about $2.4 million and Centrality worth $1.2 million were shifted to unknown wallets), they have refused to comment further right now. As of now, we know nothing about the identity of the hackers involved.

As Cryptopia tweeted:

They attached a press release from the end of the police to their tweet and the said release can be accessed here.

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