Update on the Cryptopia Hack - Forex News by FX Leaders

Update on the Cryptopia Hack

Posted Wednesday, February 13, 2019 by
Konstantin Kaiser • 1 min read

According to nzherald.co.nz, the police allowed the hacked cryptocurrency exchange Cryptopia to “open again whenever they like”.

Nevertheless, Cryptopia’s website still displays the “maintenance mode message” – and its founders did not promptly respond to inquiries about when or if trading will resume, plus its social media accounts remain inactive, as they have been for the last three weeks.

Detective inspector Greg Murton said that the main part of the investigation has been done and that “Cryptopia’s 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.”

Murton didn’t comment on whether or when charges might be carried out. Moreover, he declined to comment on how much funds were taken in the previous wallet hack, which was revealed on January 15.

Some estimate the stolen coins to be worth up to $23 million. Cryptopia’s director Pete Dawson said reporters had misinterpreted information about cryptocurrency transfers – but he left us in the dark on how much was taken.

Murton also didn’t comment on claims by some crypto enthusiasts that the heist continued after police arrived at Cryptopia’s headquarters, or that a portion of the stolen funds has been identified and frozen by a rival exchange.

On a positive note, the police stated that Cryptopia’s staff is cooperative and that an earlier report which claimed police “stormed” the company’s Christchurch building was “entirely incorrect.” In fact, Cryptopia’s management reported the hack to the police.

One of the exchange staff told The Herald he had no idea when it would open again. He declared that he was relying on police notices and the media for updates, just like the other staff members.

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About the author

Konstantin Kaiser // Professional Analyst and Day Trader
specializing in the Cryptocurrencies market. Konstantin is also a popular financial writer covering the blockchain for websites like fxleaders.com and investing.com.
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