New Zealand based crypto exchange Cryptopia has reportedly suffered a security breach which has resulted in significant losses, as per tweeted by the exchange. The breach has occurred on 14th January 2018, and the exchange has not posted any number of losses incurred.
— Cryptopia Exchange (@Cryptopia_NZ) January 15, 2019
Post the security breach, the exchange has stopped all trading activities for an indefinite period and has also contacted the New Zealand’s authorities. It is understood that the police has already started with its investigation.
The exchange records a daily volume of approximately $1 million and is centred around lesser-known tokens. The official post of the exchange noted:
“Once identified by staff, the exchange was put into maintenance while we assessed damage,”
“Staff then notified and involved the appropriate Government Agencies, including NZ police and High Tech Crimes Unit who are jointly and actively investigating the matter as a major crime and they are assisting us with advice,”
Further, it has assured the users and community:
“We are committed to getting this resolved as quickly as possible and will keep you all updated every step on the way,”
This hack also happens to be the first hack of 2019 and some users are terming it as an exit strategy in the current bear market.
Update: We are still experiencing unscheduled maintenance. The next update will be at 8am NZDT (7pm UTC)
— Cryptopia Exchange (@Cryptopia_NZ) January 14, 2019
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