In line with a recent ‘report‘ published by a renowned blockchain analysis firm ‘Elementus’, around $3.2 Mln in tokens hacked from New Zealand-based crypto exchange named ‘Cryptopia’ have been liquidated on major cryptocurrency exchanges.
The ‘hack‘, that was the primary first major security breach of this year, was proclaimed by Cryptopia exchange earlier on 15th Jan. The exchange aforementioned that the hack occurred on 14th Jan. Cryptopia exchange firstly told its users that it was undergoing an unscheduled ‘maintenance‘, revealing several ‘updates‘ before officially reporting about the security ‘breach‘.
Earlier on 20th Jan., Elementus ‘reported‘ that around $16 Mln priced Ethereum [ETH] along with other ERC20 tokens were hacked. The Cryptopia attack ‘additionally‘ continued for further 14 days following the initial breach as the exchange had not regained management over its wallets. Hackers were able to stole additional 1,675 ETH [around $175,875 USD] from 17,000 different Cryptopia wallets, with Elementus stating that, among the 17,000 affected wallets, 5,000 were completely cleared when the platform was initially breached, but however afterwards refilled.
According to 4th Feb. tweet by Elementus, the hackers were able to liquidated around $3.2 Mln of the hacked tokens on major cryptocurrency exchanges, with major funds being processed via Etherdelta, ‘Binance‘ and Bitbox.
Following the recent 15th Jan. announcement of the hack, Cryptopia ‘informed‘ government agencies along with concerning authorities like the High Tech Crimes Unit and the New Zealand Police, who have reportedly been investigating after considering the incident a serious crime.