Home / Coin Payment / Cryptopia hack: the case involving Ethereum-based tokens takes a new turn in the market

Cryptopia hack: the case involving Ethereum-based tokens takes a new turn in the market

Earlier this week, Cryptopia, a cryptocurrency exchange based in New Zealand, announced it had lost funds due to a security breach. This is one of the important exchanges that has been compromised by an attack at the beginning of 2019. To add, the exchange platform continues to be serviced and the amount that has been compromised by the hack is not it was still revealed by the team.

This case is currently being investigated by the New Zealand police and the required regulatory authorities have been informed of the hack. In their recent statement, the police revealed that the inquiry into the hack is still in its early stages and they were still trying to figure out what happened and how the hack happened.

They also claimed that they were not yet authorized to disclose the amount involved in the hack and the details of cryptocurrencies.

The police said that a large team is currently working on the case, including the Canterbury CIB. They added that the survey includes both the legal forensic investigation of the company and a physical stage examination at the exchange building. In addition, the police also stated that it is difficult to establish a period of time for which the investigation could continue because they are currently in a "complex situation".

Recently, a Twitterati, ShaftedTangu announced that the stolen funds were transferred to Binance, one of the largest cryptocurrency exchanges in terms of trade volume, in various currencies. He also urged the Binance team to act quickly and freeze the account. Later, the team managed to freeze the funds on their platform.

Changpeng Zhao, CEO of Binance:

"As soon as we checked, we managed to freeze some of the funds, I do not understand why the hackers keep sending to Binance, and social media will be pretty quick to report and freeze it, it's a high-risk maneuver."

Meme_Pope, a Redditor, said:

"Binance reported suspicious activity, frozen immediately, Cryptopia notified of suspicious activity, and called the police 36 hours later."

its_Lucider, another Redditor, said:

"If the criminals are so stupid, it should not highlight the fact that they froze the funds and said they should not be bombarded … Keep it low … let the stupid people commit stupid mistakes and get justice Do not allow future criminals to learn from the mistakes of other criminals.In another note, many props in Binance to be so proactive. "

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