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

[figmentofmyass]

Seems like Cryptopia will be re-launching very soon:

Update: We are continuing to work on assessing the impact incurred as a result of the hack in January. Currently, we have calculated that worst case 9.4% of our total holdings was stolen. Please keep an eye on our page for further updates today.

Update: We are securing each wallet individually to ensure the exchange is fully secure when we resume trading.
We have more updates to come today, please keep an eye on our page.

Update: As a result of the new wallets please immediately refrain from depositing funds into old Cryptopia addresses. We have more updates to come tomorrow, keep an eye on our page.

good to hear. the radio silence from cryptopia was starting to feel ominous.

less than 10% hacked---not nearly as bad as i thought. a haircut w/ debt tokens might work out just fine. i wonder if the numbers are in BTC terms or NZD/USD terms. i'm thinking probably fiat.

i wonder how big the exodus will be. something tells me a lot of users will stay. for a lot of these shitcoiners, there's nowhere else to go!

[1714056505]

1714056505

[1714056505]

1714056505

[stomachgrowls]

Seems like Cryptopia will be re-launching very soon:

Update: We are continuing to work on assessing the impact incurred as a result of the hack in January. Currently, we have calculated that worst case 9.4% of our total holdings was stolen. Please keep an eye on our page for further updates today.

Update: We are securing each wallet individually to ensure the exchange is fully secure when we resume trading.
We have more updates to come today, please keep an eye on our page.

Update: As a result of the new wallets please immediately refrain from depositing funds into old Cryptopia addresses. We have more updates to come tomorrow, keep an eye on our page.

good to hear. the radio silence from cryptopia was starting to feel ominous.

less than 10% hacked---not nearly as bad as i thought. a haircut w/ debt tokens might work out just fine. i wonder if the numbers are in BTC terms or NZD/USD terms. i'm thinking probably fiat.

i wonder how big the exodus will be. something tells me a lot of users will stay. for a lot of these shitcoiners, there's nowhere else to go!

They wont really have any option but to stay and i actually smiled with that word "shitcoiners". If the said hacked funds is only 9.4% then compensation on affected users wont really be that hard.
Can we really believe that this is the only percentage loss or just covering up the whole amount to prevent panic or pull out of users funds?
Atleast they do make some updates and i thought they would completely go down.

[mr.relax]

If they open again with a fair way to solve the loss, sure I will be back there too.
Because thats a proof that they are legit.
Sure their way of communication with their users was terrible.
Let us wait without notice weeeks...
That was unprofessional.
Their exchange-website was not, dont understand how anyone could say its a unprofessional site.
In the altcoinworld it was/is one of the big players.

Anyway, nothing is 100% safe from hackers.
Almost any big exchange was hacked already.
So if they learn, its good.
And if we lost onedigit percentage, its at least no total desaster.

Dont tell me the story of your keys-your coins .
Everyone has a slightly different usecase for exchanges.
With my usage, I cannot keep my coins home and safe.

Anyway we will see monday thats their schedule for reopening...as READ ONLY

[Raja_MBZ]

If they open again with a fair way to solve the loss, sure I will be back there too.
Because thats a proof that they are legit.
Sure their way of communication with their users was terrible.
Let us wait without notice weeeks...
That was unprofessional.
Their exchange-website was not, dont understand how anyone could say its a unprofessional site.
In the altcoinworld it was/is one of the big players.

I've been saying that for years:

I've been trading with Cryptopia for years, and I must admit now that they're not scammers. They've a lot of bugs/errors and sometimes their "processing" can take more than a month, but still, they're honest. I've not seen a single person losing any of his funds due to their bugs/issues/server-overloads; it can sometimes get very frustrating for you, but at the end, Cryptopia's crappy support does succeed in solving whatever issue you have.

Cryptopia team has no intention of scamming, that's for sure. Their main problem is lack of team members, you'll see your support tickets stuck with them for tens of days. Same goes with withdrawals & deposits. They just get stuck but actually get processed at the end.

Once Cryptopia re-opens, I've plans of buying some more of HUSH/XDNA/PIRL/XBY and a few other gems!

[Raja_MBZ]

A new update posted on Cryptopia's official Twitter:

Update: We were aiming to get the site live today however, we have had a slight delay and are aiming to have the site live tomorrow. We will keep you updated as this progresses.

Long Cryptopia, short Binance DEX!

[figmentofmyass]

A new update posted on Cryptopia's official Twitter:

Update: We were aiming to get the site live today however, we have had a slight delay and are aiming to have the site live tomorrow. We will keep you updated as this progresses.

Long Cryptopia, short Binance DEX!

hold your horses. they still need to recover from a 10% loss of deposits. and we'll see how much of the user base is willing to stay! surely there will be a run for the exits when withdrawals are opened. i hope they can survive it.

i also saw this post today which is extremely troubling. it's not confirmed (could be totally false) but if true, it indicates a serious bug in cryptopia's automated withdrawal system. that's scary to see right as they are relaunching after a hack!

[Raja_MBZ]

Good news, the read-only website is now live:

Update: The read-only site is now live. The holding balance from the 14th Jan is pre hack and we will be using these holdings as a baseline for calculating rebates moving forwards.

A new update posted on Cryptopia's official Twitter:

Update: We were aiming to get the site live today however, we have had a slight delay and are aiming to have the site live tomorrow. We will keep you updated as this progresses.

Long Cryptopia, short Binance DEX!

hold your horses. they still need to recover from a 10% loss of deposits. and we'll see how much of the user base is willing to stay! surely there will be a run for the exits when withdrawals are opened. i hope they can survive it.

i also saw this post today which is extremely troubling. it's not confirmed (could be totally false) but if true, it indicates a serious bug in cryptopia's automated withdrawal system. that's scary to see right as they are relaunching after a hack!

I seriously hope that they've figured out a suitable solution for that bug.

[JSRAW]

Okay, so surprisingly my holding still sitting in exchange. is it same for you guys as well?

[mr.relax]

The balance is from before hack.
It says nothing about the current status,
anyway cryptopia didnt publish yet how they will handle the losses.

Full Refund?
Distribute the losses to all users?
Leave only the users holding affected coins with the losses?
Create tradeable Dept-Tokens they will change slowly to coins?

[Raja_MBZ]

Okay, so surprisingly my holding still sitting in exchange. is it same for you guys as well?

Yes, the pre-hack balances are visible to everyone.

[figmentofmyass]

The balance is from before hack.
It says nothing about the current status,
anyway cryptopia didnt publish yet how they will handle the losses.

Full Refund?
Distribute the losses to all users?
Leave only the users holding affected coins with the losses?
Create tradeable Dept-Tokens they will change slowly to coins?

i doubt we're seeing a full refund. if that were possible, they would have announced it ASAP. i don't think cryptopia has nearly that much free capital, and the 9.4% losses might even be after they put in as much of their own money as they could.

i'm thinking they'll pro-rate the losses across all user accounts, convert the debts to a NZD-denominated token, and try to pay it back over time. if the losses are spread across lots of coins, that's the best way to do it.

[FlawlessDeal]

smells like exit scam

[figmentofmyass]

smells like exit scam

that sounds doubtful. i've lived through many exit scams and this doesn't smell like one. if they were exit scamming, they wouldn't have gone straight to the police and then brought the site up in read-only mode.

the problem now is their survival depends on peoples' faith in their viability. vircurex is an example of an exchange that got hacked and users left and never looked back.

in the case of cryptopia i have a bit more faith because 1. the losses weren't that great and 2. cryptopia users really don't have many other options for trading their low cap coins.

[Raja_MBZ]

A few updates posted on Cryptopia's official Twitter within the last few days:

Update: We are well aware of market volatility in Crypto, our next phase will be introducing cancel-only mode for users to cancel any positions accordingly before the trade engine is turned back on for trading. We aim to have this on the site in the next few days.

As we work towards full re-launch of the platform, we have now enabled the ability for users to cancel their standing orders. The API is still disabled, so you will need to cancel through the website.

If you want to cancel all orders in one go, this can be done from the account page under the Open Trades section: https://cryptopia.co.nz/Trades

[Raja_MBZ]

Cryptopia - my favorite exchange:

Despite our own issues, as a Christchurch company, our thoughts are with everyone affected by the recent shootings.

I'll surely be using them again once they get back; they're handling the whole situation in a very good manner!

[1Referee]

Cryptopia - my favorite exchange:

Despite our own issues, as a Christchurch company, our thoughts are with everyone affected by the recent shootings.

I'll surely be using them again once they get back; they're handling the whole situation in a very good manner!

I respect their Tweet to show support to the victims over there, but this doesn't make them a better exchange.

Even if Cryptopia has the best intentions in the world to get things working again, I'm doubtful about their general capabilities of runnnig an exchange. It's not out of the ordinary that something like this will happen again as hackers are targeting these exchanges more than other exchanges for a reason.

On the other hand, for the sake of people getting their funds back, I hope that this exchange ends up relaunching successfully.

[Raja_MBZ]

A number of trade pairs have been enabled; the full list can be found here:

https://support.cryptopia.co.nz/csm?id=kb_article&sys_id=3422c911db5c378032a664a14a96193c

[Raja_MBZ]

It seems like the damage is not limited to Ethereum and Ethereum tokens:



https://twitter.com/notsofast/status/1108553195175981056

[squatter]

It seems like the damage is not limited to Ethereum and Ethereum tokens:

https://twitter.com/notsofast/status/1108553195175981056

"We won't know the extent of the damage..."

That doesn't sound good at all. Maybe they were too quick to announce that only 9.4% of their total holdings were stolen.

The comment about BTC and LTC seems to confirm word from their Discord that BTC, LTC and ETH balances would all suffer a haircut. Can anyone confirm this info:

BTC = 14% Haircut
LTC = 43% Haircut
ETH = 100% Haircut

[Raja_MBZ]

"Another step towards restoring full service":

Today we have re-enabled the API in another step towards restoring full service.

...and glad to see Cryptopia's Twitter responding to queries of the users: