Latest News on the Cryptopia Exchange Hack: Official Response and Investigation Results

If you have been affected by the Cryptopia hack, there is some information that could be interesting for you. On the official Discord channel of the exchange, the user called Digger explains that they already have the building back.

However, he explains that this is not all the company needs to allow users to start trading once again. The user says that it is important to take into account the timeline of the event. The first thing mentioned is that the attack was identified on January 14, 2019. After discovering the attack, the company froze the cryptocurrency exchange and locked down the platform. After it, they notified the local authorities about it, including the NZ Police High Tech Crime Group. The National Cyber Security Centre (NCSC) was also involved in the investigation.

According to Digger, members of the NCSC arrived from Wellington and were inspecting the office, conducting interviews, and gathering evidence. The NZ Police High Tech Crimes Group arrived from Wellington into their office as well. The Group issued search and seizure warrants being able to take control of the whole building and the systems.

During a period of 3.5 weeks, key specialist staff, the NZ Police and NCSC worked on cloning the systems and preserve forensic evidence for the investigation. They have also worked to ensure that the assets are retained in a secure environment. According to Digger, the police are not constraining their return to operating.

About it, Digger commented:

“While the Police stated that they are no longer constraining our return to operations and trading, it would be extremely reckless for us to do this until we can fully identify the losses and ensure that the balance is absolutely secure.”

He went on explaining that NZ legislation makes it a crime for a company or the director of a company, to allow it to trade recklessly placing users’ assets at risk. This is why they are working in order to have everything in place to start offering trading services to users once again. Here is the full official statement made by Cryptopia on Discoard:

Update from Cryptopia on Discord from CryptoCurrency

According to a Redditor, it looks like people “might actually be getting their money back.” However, there is no information regarding the funds lost. The platform lost more than $2.4 million in investors’ funds.

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Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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