Loading cryptocurrency prices...

Breaking News: Cryptopia Exchange Hacked

- Advertisement -

Breaking News: Cryptopia Exchange Hacked

The Cryptopia exchange has been hacked. The exchange announced to users it had been hacked a day after it underwent unscheduled maintenance and almost two days after a suspicious ether withdrawal from the exchange worth around $2.5 million USD occurred.

Also read: Ahead of Ethereum Constantinople Update, Community Eyes ProgPoW

Subscribe to the  YouTube channel for great videos featuring industry insiders & experts

will keep you updated on this Breaking News story as events unfold.

- Advertisement -

New Zealand-Based Exchange Latest Victim to Hackers, First For 2019

New Zealand’s popular and high-profile exchange, Cryptopia, announced it had suffered “significant losses” in a hack and was undergoing “unscheduled maintenance”. New Zealand law enforcement officials have been notified and are working on an investigation, with hopes of finding the culprit.

The exchange announced today the news to users on Twitter, declaring a hack had taken place on January 14th:

Accessing the exchange’s website shows a maintenance notice:

Cryptopia

When Did The Hack Take Place?

There are many questions regarding the timing of the hack in relation to the announcement. On January 14th, Cryptopia tweeted that it was undergoing “unscheduled maintenance”:

The day before, etherscan reveals a transaction of around 19,390 ether from the exchange. Cryptopia’s rankings have tumbled on a 24-hour volume basis since the hack, but before the hack it was about the 123rd largest in the world. It had gained a reputation as a go-to exchange for altcoins with little future in the crypto industry.

Influential cryptotwitter identity @WhalePanda was quick to jump to the offense, claiming the exchange was fast becoming irrelevant:

His tweet was followed by an accusation from @invest_pal that there was something unbecoming about the chain of events. If the exchange was hacked on the 14th, who moved $2.5 million worth of ether off it the day before?

Fuzz On The Scene

New Zealand law enforcement, will likely investigate this “coincidence”. It is somewhat unlikely that an inside job exit scam took place, given the size of the 13th transaction would only raise suspicions. A more intelligent exit scam would have taken place via smaller amounts over a longer period of time.

Have your say. Did you sustain losses in the Cryptopia hack?


Images via Pixabay, Cryptopia



Previous Articles:

- Advertisement -

Latest News

BTQ Unveils Quantum-Resistant Bitcoin Core, Shares Jump 20%

BTQ Technologies introduced Bitcoin Quantum Core 0.2, a version of Bitcoin designed to withstand...

Fed’s Barr Warns of Stablecoin Risks as Rules Remain Unwritten

U.S. regulators have not finalized rules for stablecoins, leaving the sector in a regulatory...

TSMC Profit Surge Lifts AI Chip Stocks; Nvidia, Intel Rebound

AI chip stocks rose after TSMC announced a 39% profit increase for Q3 2025. TSMC...

Tesla Draws Mixed Analyst Ratings; BNP Paribas Sees 29% Downside

BNP Paribas initiated coverage of Tesla with an ‘Underperform’ rating and set a price...

Ripple CEO: ‘People Need Education on Ripple’s XRP Control’

Ripple CEO Brad Garlinghouse emphasized that the company does not control XRP and called...
- Advertisement -

Must Read

How To Buy a Handshake Domain: A Step-by-Step Guide

Handshake Domains | Benefits | Drawbacks | How To Buy | Supported BrowsersIn this step-by-step guide, I am going to show you how to...