Cryptopia Troubles Continue, Notifying Public Of Funds Deposited After Breach Are Unrecoverable

Cryptopia Troubles Continue, Notifying Public That Funds Deposited After Breach Was Announced Are Unrecoverable

Cryptopia, a cryptocurrency exchange that is based in New Zealand, was hacked back in the middle of January on two separate occasions. At the time, the exchange ultimately alerted the authorities, aiming to stop the breach. All operations shut down, and the company had put its website into maintenance mode. Warning investors, the company told their users about the breach, ensuring that the investors new about the troubles.

The company had issued the warning to ensure that customers would stop submitting deposits, but clearly, that didn’t work out. In a new statement from Cryptopia, the exchange let the customers know that the funds deposited at least 24 hours after their announcement of the breach would not be recoverable. Making this statement easy to understand, Cryptopia explicitly stated that funds sent after the 16th at 12:00 am NZT would not be recovered by them.

There have not been any details released regarding the recovery of funds that were deposited before the 24-hour mark, but any deposit that the company manages to recover would have the same policy that the other users have abided by. Right now, the exchange does not have the option to deposit funds, and users have already been asked not to make any deposits until the company finally decides to enable this function again.

As soon as deposits are open, the users will have to create a new deposit address for each type of coin that they hold. Considering that the hackers consistently had access to the same wallets within the breach, Cryptopia is also requesting that users avoid using any of the wallets that they already have existing within the platform.

A CoinInfo page is already accessible by users from Cryptopia, which allows them to see the activity on their wallets post-hack. Formerly, the exchange said that they were working to reclaim about 35% of the coins in new wallets and that a new feature to cancel an order would be added as well.

At this point, to get back to the state they were in before, Cryptopia will need to secure the listed coins. The exchange said that they are working to be at fully-functioning capacity by the end of this month, in an email to AmbCrypto. They added that more details should be available soon, concerning the changing relaunch date.

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