Extra, Extra Read All About Cryptopia Who Could Reopen in Early March After Hack Calculations


The troubled New Zeland crypto exchange which was hacked back in January and lost almost $16 million worth of cryptocurrency has got the nod to reopen its services to the public next week. The scheduled date has been set on March 4th as per the update provided by officials on Feb 26th. The green light to reopen its services was given after police concluded their investigation.

The officials at Cryptopia revealed a number of updates which also said that the two founder members of the firm would be returning to the company to spearhead the operations and management of the firm post hacking debacle.

According to a law enforcement official, the firm was granted permission to reopen back in mid-February, however, the officials said that it was not possible to begin processing users at that point in time.

Detective inspector Greg Murton was quoted,

“We have finished the main part of the work required by the High Tech Crime Group at Cryptopia’s business premises, although HTCG staff remain there finishing up aspects of their work,”

The officer further claimed that the investigation is in no way creating any hurdles in the operations of the firm while he refused to comment when asked if the investigators are looking to press any charges.

Cryptopia Officials Cooperated With the Investigators

The investigating agency has reported that the staff members and officials at cryptopia cooperated with the investigation. He also said the amount of missing crypto has been misinterpreted in the media, but refused to give any exact numbers of the funds lost.

The investigating agency also refused to comment on a report that the attack continued even after their arrival. Another report suggested that a part of the stolen funds has been identified and frozen, however, the investigating officers refused to acknowledge or comment on the report.

The owners of the website have refused to share the timeline of the attack and the main website still shows the same warning message as before, which reads “significant losses” along with a link to the press release issued by the New Zeland Police.

Conclusion

The New Zeland based digital asset and crypto exchange firm was reportedly faced a hacking attack on January 15th which resulted in a loss anywhere from $15 million to $26 million (as reported by various media outlets). The investigation procedure is almost complete and the exchange has been given a nod to resume its services. The firm has updated that it would resume its services from the March 4th.

There has been a growing concern in the crypto community over the continuous attacks on the exchanges and how it is putting the user's assets at risk. It has been often advised to keep one's digital asset/cryptocurrency in an offline wallet. The level of centralization actually makes it quite easy for attacking these exchanges, which defeat the purpose of decentralization in cryptocurrencies. Developers and community members need to come together to contain these hacking issues, otherwise, the trust level of consumers would go down.

https://bitcoinexchangeguide.com/crypto-price-predictions-todays-bitcoin-btc-ethereum-eth-ripple-xrp-and-eos-forecasts-feb-28/

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