CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$48,793.00
  • ethereum
    ETH$1,523.42
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » Cryptopia Admits Being Hacked: Stolen Amount is Unknown, a $2.5M Transaction Could Reveal

    Cryptopia Admits Being Hacked: Stolen Amount is Unknown, a $2.5M Transaction Could Reveal

    Author: Ali Raza

    Last Updated Jan 15, 2019 @ 09:24

    TL;DR

    • Crypto exchange Cryptopia got hacked, the exchange has gone offline since then for investigation.
    • The exchange’s statement admits that the hack occurred on January 14th.
    • The details about the hack, including the stolen amount, remain unknown for the moment, although there are indications that the theft includes nearly $2.5 million of Ethereum coins.

    It has been almost a full year since the largest crypto heist in the history of digital currencies, and the similar incident has occurred again, with Cryptopia Exchange being the target. Last year’s hack of Japan-based Coincheck exchange has seen the theft of around $530 in digital currencies.

    According to a report published by Cryptopia, the exchange was hacked yesterday, January 14th. The exchange’s team was able to halt the attack by temp moving the platform offline. However, there is still a significant amount of damage that attackers managed to inflict.

    pic.twitter.com/0ZwqFfwwHi

    — Cryptopia Exchange (@Cryptopia_NZ) January 15, 2019



    Immediately after dealing with the attack, the team had notified relevant government agencies, such as NZ Police and High Tech Crimes Unit, who are now leading the investigation.

    The attack is already classified as a major crime, which is why the exchange will have to remain offline until further notice. However, the exchange did promise to resolve the situation as quickly as possible in order to allow users to continue their daily trading routine.

    This Transaction Could Reveal Some of The Damage

    The amount stolen is not currently known to the public, and it is possible that the exchange itself has yet to determine the amount that was stolen. However, a massive amount of 19,391 ETH (approximately $2.5 million) was recently transferred from Cryptopia to an unknown wallet, which might serve as an indication regarding the stolen amount.

    The statement published by Cryptopia was relatively vague, with not a lot of details, which has left traders confused and worried about their funds. Many are hoping that the exchange has kept the majority of the funds in cold storage, although this is not confirmed.

    A Long History Of Crypto Hacks

    The trend of hacking crypto exchanges has grown significantly in the last two years, especially after the crypto hype of late 2017. As more people and money joined the crypto industry, more of them started using exchanges, and as a result — more funds kept flowing into these platforms. Considering how difficult it is to hack and cause harm to blockchains, crypto exchanges and wallets tend to be the most likely targets for hacking attacks.

    Regulators around the world recognized this issue, and have increased security requirements that exchanges have to meet. However, the attacks are still occurring, which continuously damages the reputation of exchanges, and affects users’ trust. Meanwhile, users are once again reminded that it’s better to keep their coins off the exchange and store them safely in cold storage. As been said before: Not your private keys, not your coins.

    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.


    About The Author

    Ali Raza View more posts by this author

    Experienced in web journalism and marketing, Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali's work has been published on a number of valuable publications. Contact Ali: LinkedIn

  • bitcoin
    BTC$48,793.00
  • ethereum
    ETH$1,523.42
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    pionexb
    2local
    Bitcoin Editorials
    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!