Will Cryptopia Really Be Able to Show How Disastrous the Hack Experienced Was?

In January 2019, the cryptocurrency exchange Cryptopia experienced a hack that resulted in the loss of several millions of dollars and that affected thousands of users in the market.

Now, the New Zealand-based exchange informed that the police allowed employees to return their offices after the suspension of its operations last month.

The information was released on Twitter on February 14 by the crypto exchange. Additionally, they’ve informed that the police continue with their investigations and the staff is also working to evaluate the funds that were stolen.

According to a recent report released by the New Zealand Herald, the law enforcement agencies finished their main investigations.

On the matter, Detective Inspector Greg Murton of the High Tech Crime Group, commented:

“We have finished the main part of the work required by the High Tech Crime Group (HTCG) at Cryptopia’s business premises, although HTCG staff remain there finishing up aspects of their work. Cryptopia management has full access to their facilities and business premises and the Police investigation is not preventing their business from getting up and running again.”

Although they now have access to their offices, the platform has not yet given any specific information regarding the funds that were stolen. This is why users have been asking the exchange to provide information regarding their funds and the money they lost.

The first reports show that the exchange lost around $2.4 million in Ethereum (ETH) and other digital assets. However, it might be possible to see larger losses. According to the blockchain analysis platform Elementus, the exchange lost around $16 million. Apparently, the tokens stolen included Dentacoin, Lisk and many other such as Zap or Pillar.

The hackers seemed to have moved the funds from Cryptopia to various other cryptocurrency exchanges such as Binance, Huobi, Kucoin, HitBTC and also Bittrex.

Another thing to mention regarding this hack is the fact that the hackers attacked not only once, but twice, two weeks after the first security breach. Elementus believes that the same hacker attacked the second time as well.


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