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Cryptopia Says 9.4% of All Funds Stolen But Aims to Reopen Next Week

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Georgi Georgiev | Feb 28, 2019 | 08:00

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Cryptopia Says 9.4% of All Funds Stolen But Aims to Reopen Next Week

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Georgi Georgiev | Feb 28, 2019 | 08:00


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Hacked New Zealand cryptocurrency exchange Cryptopia revealed that it’s aiming to re-launch its website by Monday though only in a read-only mode. 


Read-Only Cryptopia by Monday

According to a recent update posted on Cryptopia’s official Twitter page, the exchange hopes to be able to re-open its website by Monday. However, it will only be in read-only mode, meaning users will only be able to check their balances for now.

Bitcoinist reported in January that the New Zealand exchange went through a security breach. Local Government agencies, including the High Tech Crime Unit and the NZ Police joined the investigation.

The most recent police report said that the investigation is “progressing well and advancing on several fronts.”

The stolen cryptocurrency is being actively tracked by the local police and cybercrime experts worldwide. However, the report also notes that it is too early for the authorities to “draw any conclusions.”

9.4 Percent of Total Holdings Gone in The “Worst Case”

The cryptocurrency exchange also clarified on February 26th that, according to their calculation, the hackers have managed to steal as much as 9.4 percent of the exchange’s total holdings.

Earlier this month, a report by blockchain data company Elementus showed that $3.2 million worth of cryptocurrencies stolen during the attack on the exchange has already been liquidated.

Additionally, the team of Cryptopia said that a lot of work is being done in order to ensure that each of the new wallets is secured individually.

Because of the new wallets, users are warned to immediately refrain from depositing funds into the old addresses of the cryptocurrency exchange.

What do you think about the situation with New Zealand’s Cryptopia? Don’t hesitate to let us know in the comments below!


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