Cryptocurrency Exchange 'Cryptopia' Hacked - Major Significant Losses Expected.

Cryptocurrency Exchange 'Cryptopia' Hacked - Major Significant Losses Expected.

2019-01-16 | Mike Hallen

Cryptocurrency Exchange 'Cryptopia' Hacked  - Major Significant Losses Expected.

In line with a recent official tweet 'published', New Zealand's digital assets exchange Cryptopia has 'stopped its all services' after detecting a major hack that has reportedly “resulted in significant losses.”

The exchange disclosed within the tweet that the hack occurred on 14th Jan. The platform had at first 'informed' the general public that it was 'undergoing' an 'unscheduled maintenance'.

As per yesterday’s tweet, the exchange has notified government agencies and authorities, together with the New Zealand Police and High Tech Crimes Unit, that have reportedly opened an investigation into the matter and are allegedly treating the incident as a serious crime.

Cryptopia — whose total daily trading volumes are presently not disclosed on 'CoinMarketCap' —it lists over 800 crypto assets, with support of of trading pairs that embrace a range of small-scale crypto assets.

With the spreading of the news of this hack industry Twitter personality ‘WhalePanda’ commented on the hack, that he notably placed in quotation marks, stating in his second 'tweet':

“Interesting that this happens in every bear season where exchanges are find themselves troublesome to form ends meet and are aggressively messaging anyone involved with crypto projects to urge them to pay listing fees to urge listed on their platforms.”

In response to WhalePanda’s tweet, a few of commentators have gone to this point that they are personally investigating Cryptopia’s recent transactions, claiming the exchange had moved Ethereum [ETH] worth 'several million dollars' out of its wallet just yesterday, analysing 'data' provided by crypto exchange blockchain monitor Whale Alert on 13th Jan.

In a spate of accusive remarks on the apparent coincidence, other commentators volunteered allegations that the recent hack might be an exit scam plan, and allegedly 'pre-planned'. None of these claims have been yet verified, at the reporting time.

The host of CNBC's CryptoTrader show ‘Ran NeuNer’, has  additionally 'tweeted' his response, questioning whether or not the apparent breach was because of negligent storage practices and whether the exchange would be able to refund users given their small size and the ongoing bearish crypto market.

As reported earlier, Cryptopia raised concern among users last summer when it began a planned maintenance window, citing surprising problems that need further investigations. The move prompted user reports of withdrawal 'difficulties' even after the unexpected maintenance.

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