Cryptopia has been in "maintenance" for the last 14 hours!

[Raja_MBZ]

Okay, I didn't care about it till a few hours back, but now it has been more than 14 hours and it's still in maintenance.

Cryptopia's official channels (such as their official Twitter account) are only trying to keep us calm, without giving out any major reason for the downtime.

Funds safu?

[1714792724]

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[1714792724]

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[cissrawk]

Looks like its almost 24 hours, and i still have some coins on there that i'm not withdraw yet. Since they said its unscheduled but this reply on twitter has good point.

Looks like their exchange got hacked, and this news posted about 2 hours ago.
https://ethereumworldnews.com/cryptopia-exchange-hacked/?fbclid=IwAR2pDLxjdkpWlM07gOoTL2N-lWBDEh2k6fh6alYMOp-YHuUZ1yc8dxj8rdA
https://www.newsbtc.com/2019/01/15/breaking-crypto-exchange-cryptopia-hacked-police-starts-investigation/

[Raja_MBZ]

Smells like real trouble for Cryptopia (and its users); it's still down.

New Zealand Crypto Exchange Cryptopia Goes Offline Citing Hack

https://www.coindesk.com/new-zealand-crypto-exchange-cryptopia-goes-offline-citing-major-hack

The only statement from Cryptopia till now regarding this downtime:



Funny how Mr. CZ is using this failure for his product's promotion:

Store coins yourself. You fight hackers yourself, and guard from losing wallet yourself. Computer breaks, USBs gets lost.

Store on an exchange.  Only use the most reputable, proven secure, exchanges.

Or move to DEX, disrupt ourselves.

[gentlemand]

Funny how Mr. CZ is using this failure for his product's promotion:

Store coins yourself. You fight hackers yourself, and guard from losing wallet yourself. Computer breaks, USBs gets lost.

Store on an exchange.  Only use the most reputable, proven secure, exchanges.

Or move to DEX, disrupt ourselves.

When Binance has been going for a century without mishap, I can pop along to their offices and they're fully regulated in my jurisdiction I might consider parking a small amount of money on there for short periods. Until then I can't believe he'd write this. Perhaps his account has been farmed out to his 5 year old little brother.

I hope that overconfidence isn't extended into how they run their actual security.

[Raja_MBZ]

Funny how Mr. CZ is using this failure for his product's promotion:

Store coins yourself. You fight hackers yourself, and guard from losing wallet yourself. Computer breaks, USBs gets lost.

Store on an exchange.  Only use the most reputable, proven secure, exchanges.

Or move to DEX, disrupt ourselves.

When Binance has been going for a century without mishap, I can pop along to their offices and they're fully regulated in my jurisdiction I might consider parking a small amount of money on there for short periods. Until then I can't believe he'd write this. Perhaps his account has been farmed out to his 5 year old little brother.

I hope that overconfidence isn't extended into how they run their actual security.

...and now we've got a clarification for that tweet by CZ himself:

Some people seems to misread this tweet. It lists 3 options. It does not say which option is better than another, as that depends on each persons security skill, preference, fund allocation, etc.

Most importantly, it is an ad for the #BinanceDEX.  My bad for not making it clear.

[Raja_MBZ]

Investigation involving crypto-currency company

http://www.police.govt.nz/news/release/investigation-involving-crypto-currency-company

Imagine investigation in New Zealand and hacker in Spain (about 20 thousand KM away from New Zealand)...

[DaCryptoRaccoon]

Surprised that place wasn't the first to go down.
Should be a wake up call to some not to keep funds on exchanges the same old story.

Man puts money in exchange,
Exchange gets hacked,
Man cry on twitter...

Man should learn lesson..

[Raja_MBZ]

An update by New Zealand Police:

Update: Investigation involving cryptocurrency company

Wednesday, 16 January 2019 - 7:30pm
National News
The investigation into the alleged unauthorised transaction of cryptocurrency at the Christchurch company Cryptopia has continued today.
 
The inquiry is still in its very early stages and police are continuing to work with Cryptopia to establish what has happened and how.
 
Police are not yet in a position to say how much cryptocurrency is involved, other than it is a significant amount.
 
A large team, including Canterbury CIB and specialist staff from the police High Tech Crime Unit, have been assigned to the case.
 
There has been a visible police presence at the company’s Colombo Street headquarters throughout the day as police take the steps needed to progress the investigation.
 
While police are unable to go into details about specific steps being taken at this stage, we can say that our focus includes commencing both a forensic digital investigation of the company, and a physical scene examination at the building.
 
We are dealing with a complex situation and we are unable to put a timeframe on how long the investigation may take.
 
We are also aware of speculation in the online community about what might have occurred.  It is too early for us to draw any conclusions and Police will keep an open mind on all possibilities while we gather the information we need. 
 
A priority for police is to identify and, if possible, recover missing funds for Cryptopia customers; however there are likely to be many challenges to achieving this.
 
We would also like to make clear that Cryptopia are cooperating fully with the investigation team and a media report that police ‘stormed’ the building today is entirely incorrect.
 
Anyone with information which could assist the investigation can contact police by email at crypto@police.govt.nz (link sends e-mail).
 
ENDS
 
Issued by Police Media Centre.

https://www.police.govt.nz/news/release/update-investigation-involving-cryptocurrency-company

[Raja_MBZ]

No new update has been shared by either Cryptopia or New Zealand Police for the last 7 days. They should at least release out the funds from un-hacked wallets.

[harizen]

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

Aside from the list of confirmed wallets hacked, other tokens with a total worth of $3M USD is also included. I even accept that some of my tokens there already on doomed. Im now trying to move on from this case and hoping a good progress. Can't imagined how will Cryptopia will deal on these.

https://etherscan.io/address/0x9007a0421145b06a0345d55a8c0f0327f62a2224

[joniboini]

Can't imagined how will Cryptopia will deal on these.

They're doomed if they don't have any funds on another wallet. It will be impossible for them to return the amount of money lost and continue their business. At the very least, I hope customer can get their money back. Didn't really matter whether they continue running their business or not, there are other exchanges out there.

[mr.relax]

There should be some info from cryptopia, what had been stolen.
I like to know what of my coins there are gone.
If and how to get access to the funds.
Its understandable they cannot straight reactivate the website if safety is not set up new.
But they should inform about whats now and whats next.

[jrrsparkles]

There should be some info from cryptopia, what had been stolen.
I like to know what of my coins there are gone.
If and how to get access to the funds.
Its understandable they cannot straight reactivate the website if safety is not set up new.
But they should inform about whats now and whats next.

In my prediction this is they exit scam not hack from someone outside but they are doing this perfect scam looks like hack.No response from the cryptopia team and what they are going to do further.People who kept their funds in that shady funds need to know that they lost it forever.

[squatter]

There should be some info from cryptopia, what had been stolen.
I like to know what of my coins there are gone.
If and how to get access to the funds.
Its understandable they cannot straight reactivate the website if safety is not set up new.
But they should inform about whats now and whats next.

From the aspect of customer service, they definitely should. However, Cryptopia seems to be hiding behind the police investigation in order to bide time. They probably haven't figured out their next move. A depositor bailout by new investment is possible. So is a general haircut or bail-in style situation like the Bitfinex hack, where they determined how much was lost in USD value and socialized the losses to all users. They're probably also hoping for more information about what was frozen at Binance and how much might be recovered. All of this stuff takes time to figure out, and they can't affirmatively say who still owns what at their exchange.

[Raja_MBZ]

The Cryptopia Hack Is Not Over, Another 17K Wallets Drained - Report

https://cryptonews.com/news/the-cryptopia-hack-is-not-over-another-17k-wallets-drained-r-3284.htm

If the hackers have really managed to hack the remaining wallets again, I'd say that it should be New Zealand Police's duty to pay for that. They stopped Cryptopia from providing the updates, and clearly mentioned that:

A priority for police is to identify and, if possible, recover missing funds for Cryptopia customers; however there are likely to be many challenges to achieving this.

Incompetent police.

[gentlemand]

The Cryptopia Hack Is Not Over, Another 17K Wallets Drained - Report

https://cryptonews.com/news/the-cryptopia-hack-is-not-over-another-17k-wallets-drained-r-3284.htm

If the hackers have really managed to hack the remaining wallets again, I'd say that it should be New Zealand Police's duty to pay for that. They stopped Cryptopia from providing the updates, and clearly mentioned that:

A priority for police is to identify and, if possible, recover missing funds for Cryptopia customers; however there are likely to be many challenges to achieving this.

Incompetent police.

That implies the thief has full control over all those funds and always has and Cryptopia has none. I don't get how that's possible. The thief could certainly have them at the same time. How do you entirely hijack wallets? Do they not have backups?

[squatter]

A priority for police is to identify and, if possible, recover missing funds for Cryptopia customers; however there are likely to be many challenges to achieving this.

Incompetent police.

Cryptocurrencies makes these situations really difficult. They can be sent globally without permission, so the stolen money is literally gone. It's impossible to recover if secured correctly by the hacker. Binance was able to freeze some of the funds, but it may also be a jurisdictional nightmare to recover them. The investigation spans multiple countries -- New Zealand, Malta (Binance), the countries where any other involved exchanges operate from, the country where the hacker's VPN servers were operated from, the hacker's country of residence, etc.

Plus, you could withdraw up to 5,000 NZD daily without verification on Cryptopia. Since their specialty was low-value coins, they probably have loads of unverified accounts. If Cryptopia can't return to operating normally, that further complicates returning funds to their rightful owners.

[freedomno1]

Some people must be automining and set the address to cryptopia did not know there was a hack and keep sending funds to those wallets which get sweeped, that said the hackers are doing the sweeping since Cryptopia isn't ...

[Raja_MBZ]

Some people must be automining and set the address to cryptopia did not know there was a hack and keep sending funds to those wallets which get sweeped, that said the hackers are doing the sweeping since Cryptopia isn't ...

I'm quite sure that there'd not be that many miners sending their Ethereum (a total of 1675 ETH) to Cryptopia. This looks like a fresh sweep by hackers, and literally, shame on police for not taking good care of the remaining un-hacked wallets.

[freedomno1]

Some people must be automining and set the address to cryptopia did not know there was a hack and keep sending funds to those wallets which get sweeped, that said the hackers are doing the sweeping since Cryptopia isn't ...

I'm quite sure that there'd not be that many miners sending their Ethereum (a total of 1675 ETH) to Cryptopia. This looks like a fresh sweep by hackers, and literally, shame on police for not taking good care of the remaining un-hacked wallets.

Your right not 1675 Eth worth, the police are not known for being speedy at anything that said ...

"more than 5,000 wallets that had already been drained in the original hack, but have since been topped up, apparently by Cryptopia users unaware of the breach."

I doubt the police cyber-crime division even knows how to secure and sweep wallets.
Lets hope they sweep the remaining un-hacked wallets into a police wallet at least or get the right people to deal with it well assuming that cryptopia has the keys ...

https://cryptonews.com/news/the-cryptopia-hack-is-not-over-another-17k-wallets-drained-r-3284.htm