Cryptopia has been hacked; down for measures, loss analysis

Cryptopia one of the largest cryptocurrency exchanges operating in New Zealand has been forced to suspend its services after a hack was found leeching cryptocurrency from various transactions that occur on the exchange. The announcement came in a tweet that explained that the exchange has been shut down due to the attack.

The announcement revealed that the exchange had suffered “significant loss” due to a hack that came on the 14th of January, 2019. The exchange was quick to shut down all operations as the hack was identified and then curbed. The exchange also announced that the relevant government agencies and the New Zealand High Tech Crimes Unit had been informed of the hack, and the matter is currently under investigation.

The exchange requested the users to remain patient while the relevant authorities and the exchange team look at the measures and the trading would remain suspended for an unknown time. The exchange also promised the users to keep them up to date on the matter.

Before the detailed description, the exchange went into a shutdown promising an update, and the announcement came as promised. Cryptopia has been silent since the last update about hours before the press time. This is not the only exchange that suffered an attack at the hands of scammers and jackers.

Last week, another major exchange also suffered a fifty-one percent (51%) attack that crippled on the Ethereum blockchain causing a loss of over two hundred and fifty thousand dollars ($250,000) in Ethereum classic (ETH).