Another crypto hack has plagued the cryptocurrency space. This time, the New Zealand-based Cryptopia found itself at the center of it. The cryptocurrency exchange announced the news via the company’s Twitter this morning, stating it “suffered a security breach which resulted in significant losses.”
Cryptopia Crypto Hack
— Cryptopia Exchange (@Cryptopia_NZ) January 15, 2019[2]
The exchange’s website is now completely offline, and the company states that it is undergoing maintenance. However, it is more likely that the team at Cryptopia is trying to track down the hacker and figure out how they gained access to the exchange’s system.
The initial hack figures are said to be around 19,000 ETH tokens, worth just over $2.4 million. With previous crypto hacks, these figures have been initially blown out of proportion and often are off from the final, more accurate figures. In addition to the ETH, it has been rumored that 48 million Centrality (CENNZ) tokens have also been transferred from the site to unknown wallets.
The good thing about this crypto hack is that Cryptopia revealed it to investors immediately, rather than trying to hide it. It seems the team at Cryptopia is quickly working on damage control, but it remains unknown at this time when we’ll get official hack numbers.
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Investors aren’t pleased and are all voicing their opinions on why this occurred.
Crypto Hack Backlash
One investor tweeted:
My first exchange to use was @Cryptopia_NZ but heard bad rumours of its level of security. If they implement $hydro's 2FA I might reconsider going back to use it as my main exchange! Safety first
