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Cryptopia Exchange Shutters Following Hack

Distributed Summary:

  • New Zealand cryptocurrency exchange closes down after staff members identify a breach
  • Crypto Whale reported large Ethereum and Centrality transactions from the Cryptopia wallet
  • Exchange remains in maintenance mode while team works to resolve issue

The cryptocurrency exchange Cryptopia has gone offline following a recent hack.

The New Zealand-based exchange’s official Twitter account broke the news, claiming that “the Cryptopia Exchange suffered a security breach which resulted in significant losses.” After security experts on staff were able to identify the breach, the tweet explained, “the exchange was put into maintenance while we assessed damages.”

Although it is unclear exactly how much was stolen in the breach, crypto transaction tracker Crypto Whale reported several large transactions of Ethereum and Centrality tokens from the Cryptopia wallet. Although it is uncertain if these were funds stolen in the hack, or if the administrators themselves were transferring these assets, well over $3 million was involved in these transactions.

According to the tweet, the Cryptopia staff has “notified and involved the appropriate government agencies, including NZ police and High Tech Crimes Unit.” In an eyebrow-raising detail, these agencies are apparently “actively investigating the matter as a major crime.” As of this writing, Cryptopia’s website hosts only a message about the hack.

The Cryptopedia team has claimed that the exchange will remain in maintenance mode, with no trading available, until the matter is completely resolved. It added that its staff members “are committed to getting this resolved as quickly as possible, and will keep you updated every step of the way.”

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