[2019-1-22]New Zealand: Binance Finally Halts Transactions of Funds Stolen in Ha

[Vladdirescu87]

New Zealand: Binance Finally Halts Transactions of Funds Stolen in Hacked Cryptopia Crypto Exchange

Binance, the biggest cryptocurrency exchange in the world in terms of trading volume, has frozen funds which were maliciously stolen from the hacked Cryptopia digital currency exchange earlier last week.

As reported by Coinidol, more than 40 users are demanding a refund from Cryptopia. The police and other relevant authorities are still investigating into this matter. This has caused hacked Cryptopia to cry for help.
The CEO of Binance, Zhao Changpeng, proclaimed the news on Wednesday via Twitter.

Read more: https://coinidol.com/new-zealand-binance-finally-halts-transactions-of-funds-stolen/

[btyco]

They should refund all investors like myself who have lost funds there, and also reward binance for freeing their funds. Clearly an inside job, cryptopia should check their staff properly

[Kemarit]

We keep talking about Binance freezing the stolen funds, but how about other exchanges though? I haven't heard anything besides Binance. I'm sure the supposedly hacker/s didn't just deposit everything on Binance platform. If they the New Zealand and Cryptopia wanted to get back everything, they should also contact other exchanges as well and not just concentrate on just one trading platform.

[bbc.reporter]

@Kemarit. I reckon Binance is only one of the very few exchanges left that accepts new accounts without enforcing KYC/AML for small withdrawals.

The hackers might have made many accounts there and planned to withdraw the coins for 2 bitcoins at a time, every 24 hours from many accounts hehehe. An easy catch for Binance.

[Jating]

.

https://cryptonews.com/news/after-cryptopia-hack-2-000-wallets-still-might-be-at-risk-re-3247.htm

Here you go. So there's a lot of other exchanges involved as well. And its also interesting to note as per article:

According to Elementus, Cryptopia has not been very quick on the uptake even when the initial breach happened. Not only did the hackers take their time siphoning out the funds - over a course of almost five days - but Cryptopia seemed powerless to stop them, even though they should not have had these issues. A plausible explanation is that the exchange simply lost access to the wallets - a total of 76,000.

What the hell? A exchange losing access to their wallets? It seems that Cryptopia has a lot of explaining to do with their investors and account holders as well.

[bbc.reporter]

How big is the chance that Cryptopia founders were exit scamming? Exit scams appear to occur again periodically among ICOs and some exchanges during a bear market.

Should we expect more of it hehehe?

[joniboini]

How big is the chance that Cryptopia founders were exit scamming? Exit scams appear to occur again periodically among ICOs and some exchanges during a bear market.

Should we expect more of it hehehe?

So glad that I stop using Cryptopia since months ago. I don't think they're doing an exit scam because there is no definite proof yet but at least we can say they're pretty irresponsible and somehow powerless to prevent the worse to happen. But if they don't want to repay the money of their users, I'm pretty sure anyone would say they're doing an exit scam.

Let's wait the result of police investigation (if it ever comes out).

[Baofeng]

How big is the chance that Cryptopia founders were exit scamming? Exit scams appear to occur again periodically among ICOs and some exchanges during a bear market.

Should we expect more of it hehehe?

We can't discount that possibility. At the back of our minds it might be very well a exit scam pulled by those behind this exchange. So I hope that the authorities will really find out what really happens, if its a hack or a inside job. Because lots of traders lost money big time and we understand their frustrations. Cryptopia has a lot of explaining to do and up to this day I haven't heard any official statement from them regarding restitution.