Troubled Cryptopia Cryptocurrency Exchange Resumes Trading with Nearly 40 Pairs


The Cryptopia which is a New Zealand based crypto exchange has just gone ahead to resume trading on about 40 pairs; this is all according to a tweet that was made from the company on 18th March.

According to the tweet, the company goes ahead to announce that they have resumed trading on about 40 of the trade pairs that the company has ensured that they are secure from trade. But the company will not stop here as they will be expanding their current list as they go to clear more coins.

The update has just followed a recent announcement that was made on the plans for the company to reopen trading on their platform; this is expected to happen by the end of March, this was following the $16 million hack that occurred in mid-January.

More on the Suspension of the Platform

Cryptopia had suspended their services in January after they had detected a significant attack that was taking place, one that actually resulted in the company suffering substantial losses. The company had gone ahead to inform the public that they were undergoing some scheduled maintenance; this is where they issued several updates just before dismissing the breach they had experienced.

Just after the initial reports that were presented on the attack, further evidence surfaced that said hackers were actually siphoning the cryptocurrencies out of the platform as late as about two weeks later.

The Co-Founder of Cryptopia Rob Hex Dawson went on to state that the company went ahead to relaunch their current website to a read-only format as of 5th March, and from here the company also showed the balances they had as of 14th of January, this is the day that the hack took place.

The exchange went on to explain that their website could actually be used to reset the passwords and the two-factor authentication credentials easily. Which has become a very important factor for the platform especially when it comes to adequate client support at their current stage.

Hex has also gone ahead to specify that the current users who were unfortunate enough to lose their crypto coins will be able to see a section that has been named withdrawals for the coins. He also went ahead to explain that the transaction IDs that are used for the withdraw orders will not be made available on the network, but it included the details on how the coin got affected during this event.

With the tweet that was made today brought about mixed reactions within the community, as some users were very pleased and welcomed the company while others were accusing the platform of trade manipulation.

“Cryptopia manipulate trading at some extent. they open trading with wallet offline and no announcement.”

Another user also said

“what are you talking about? you took my BTC i saw withdraw history : INTERNAL WITHDRAW: on March 18 2019….. i want my BTC back!!!!!!!”

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