Cryptopia exchange hacked

[milewilda]

At least "looks" like it's there, even if we can't move or trade it.

Don't want the idea of a fake view. It will build a fake expectations.

Looks like a delaying tactics to me just to show their customers that they are taking actions.

Anyways, hope that another good progress will happen few days by now.

I hardly believe that after Police investigation, will put fake balances. Besides most people didn't have any expectations at all.
Yes, they are late to announce some actions and it's obvious that it is their strategy. The result though so far, is positive and i really hope it continue this way.

So we are on the same page here.

The opening of that fake website view turned out to be positive to others including me, but I realized later on that the picture was not totally makes sense and just used, as I mentioned, to show people they are in progress of making the site operational.

And now they leave people again hanging after a week of reopening that fake view site.

I really missed my funds there lol although Im now on the process of moving on.

The suck part is that we are waiting for no definite time or just estimates on when it would be fully operational.I do really see this thing as a show-off to its users that they
are doing their part to retrieve their service. The feeling of being hanged in the middle isnt really that easy even i do already pull my funds on Cryptopia but im still stressed out on the current
condition of its users.

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[pinoycash]

Just in

Cryptopia Exchange
‏@Cryptopia_NZ
Update: We have commenced answering support tickets in regards to 2FA and password resets. Keep an eye on our page for further updates.

https://twitter.com/Cryptopia_NZ/status/1105333501383999488

Another 1 step forward and 2 step backward

What next? We will commence resetting user passwords

and then the next day...

We will commence resetting 2FA resets

and then the day after

No Update since its weekend Good Job cryptopia

[mano237]

I have around 1 million daps on cryptopia..

Do we know if all erc20 tokens are gone? Or is there a chance that one of our wallets is not affected? 

[pinoycash]

I have around 1 million daps on cryptopia..

Do we know if all erc20 tokens are gone? Or is there a chance that one of our wallets is not affected? 

There's NO official announcement on the list of coins that been stolen but based on unofficial reports from 3rdparty researcher all ETH and ERC20 Tokens has been drained by the hacker in Cryptopia hot wallet.

[LeGaulois]

Surprisingly, the website is back online today , did they announced something about a relaunch and its users balance? Not that I care about mine, I have just a few cents in and I see them in my wallet, but I'm wondering about users with "a lot of coins"

It will be a real challenge for them to regain the trust of users

[pinoycash]

Surprisingly, the website is back online today , did they announced something about a relaunch and its users balance? Not that I care about mine, I have just a few cents in and I see them in my wallet, but I'm wondering about users with "a lot of coins"

It will be a real challenge for them to regain the trust of users

They been online for some time now (march 4, 2019) and currently on READ-ONLY Mode with the options to cancel orders on the trading page.

[figmentofmyass]

Surprisingly, the website is back online today , did they announced something about a relaunch and its users balance? Not that I care about mine, I have just a few cents in and I see them in my wallet, but I'm wondering about users with "a lot of coins"

It will be a real challenge for them to regain the trust of users

they've been posting updates on twitter. everything is still in read-only mode---i'm not even sure if they've decided how to distribute the losses yet. now people can cancel old orders so they are't immediately triggered when trading resumes.

tbh i have a feeling many users will stay at cryptopia. the losses were fairly small, they have a market niche that few other exchanges can fill (lots and lots of low cap coins), and people (even old school people) seem to like them. if they do it bitfinex-style and repay with tokens over time---or maybe even offer customers the opportunity to invest---i'll bet they would retain most of their prior volume.

the big question should be whether the site is actually secure but for most people in this situation, it's an afterthought. with the bitfinex hack the admins couldn't even figure out how it happened. they just migrated to new wallets. they still continued to grow in market share after that!

[RivAngE]

they've been posting updates on twitter. everything is still in read-only mode---i'm not even sure if they've decided how to distribute the losses yet. now people can cancel old orders so they are't immediately triggered when trading resumes.

tbh i have a feeling many users will stay at cryptopia. the losses were fairly small, they have a market niche that few other exchanges can fill (lots and lots of low cap coins), and people (even old school people) seem to like them. if they do it bitfinex-style and repay with tokens over time---or maybe even offer customers the opportunity to invest---i'll bet they would retain most of their prior volume.

the big question should be whether the site is actually secure but for most people in this situation, it's an afterthought. with the bitfinex hack the admins couldn't even figure out how it happened. they just migrated to new wallets. they still continued to grow in market share after that!

But Bitfinex was hacked at a time when there was little competition in the space and a year or so later we had the famous huge price spike in every coin and all the exchanges got flooded with new customers.
Most of these new customers wouldn't care to research about an exchange's past, all they wanted was just one exchange to verify their account ASAP (so that they can get REKT in ATH ).

This period of time is different and people won't be as forgiving to Cryptopia who had a bad customer support to start with. However for such a small loss, I believe they'll just absorb it themselves and many people will forget the issue after a little.

[figmentofmyass]

they've been posting updates on twitter. everything is still in read-only mode---i'm not even sure if they've decided how to distribute the losses yet. now people can cancel old orders so they are't immediately triggered when trading resumes.

tbh i have a feeling many users will stay at cryptopia. the losses were fairly small, they have a market niche that few other exchanges can fill (lots and lots of low cap coins), and people (even old school people) seem to like them. if they do it bitfinex-style and repay with tokens over time---or maybe even offer customers the opportunity to invest---i'll bet they would retain most of their prior volume.

the big question should be whether the site is actually secure but for most people in this situation, it's an afterthought. with the bitfinex hack the admins couldn't even figure out how it happened. they just migrated to new wallets. they still continued to grow in market share after that!

But Bitfinex was hacked at a time when there was little competition in the space and a year or so later we had the famous huge price spike in every coin and all the exchanges got flooded with new customers.
Most of these new customers wouldn't care to research about an exchange's past, all they wanted was just one exchange to verify their account ASAP (so that they can get REKT in ATH ).

This period of time is different and people won't be as forgiving to Cryptopia who had a bad customer support to start with. However for such a small loss, I believe they'll just absorb it themselves and many people will forget the issue after a little.

people always think "it's gonna be different this time" but it rarely is. when exchanges are in a position to pull an exit scam but they don't (like bitfinex in 2016 or btc-e in 2017), lots of customers will stick it out. that's just my observation over the years. maybe it's just the wild west nature of crypto speculators and exchanges. i've found that lots of investors in this space---in spite of the entire purpose of bitcoin---just don't care very much about securing their money. they like to stick with what they're used to (including bad security practices and using exchanges that get hacked) and they really like buying shitcoins (cryptopia's specialty).

[yurimir]

Possibly it will take a couple of months 

"As we prepare to open we have secured 35% of coins on our exchange to new wallets. We need to complete this exercise fully prior to opening the exchange."

https://twitter.com/Cryptopia_NZ/status/1106030832009895937

[pinoycash]

Possibly it will take a couple of months 

"As we prepare to open we have secured 35% of coins on our exchange to new wallets. We need to complete this exercise fully prior to opening the exchange."

https://twitter.com/Cryptopia_NZ/status/1106030832009895937

You forget about their scheduled outage today

I have to commend who ever thinks of these updates 
They keep posting useless after useless updates just to keep their customer entertain.

[condoras]

They keep posting useless after useless updates just to keep their customer entertain.

You are right. If they want to entertain us, let it open normally.
Only one update with the full opening/funcionality date, would be enough.

You forget about their scheduled outage today

It's like a day menu... "what we have today, Chef? Anything new?"

[pinoycash]

They are hoping to resume their service by the end of this month, Again HOPING. Playing safe before dropping any date.

If you held balances in coins that were lost in the event you will start to see Withdraws on your account for those coins. The TXID for the withdraw will not exist on the network but will detail how the coin was impacted in the event. For each withdraw you will also see a subsequent deposit of Cryptopia Loss Marker(CLM), the TXID for this will also not exist on a network but will detail the coin it represents a loss for. CLM is not a coin, it can't be traded as yet, it is just a number in the database that represents the loss for each coin for each user in $NZD at the time of the event. There are still steps to take to ensure we are taking a legal path toward reimbursement.

 We will be emailing you again shortly with more details around the rebates and the projected dates for trading to be active again. Please be aware, we are hoping to achieve this by the end of the month.

Source: https://support.cryptopia.co.nz/csm?id=kb_article&sys_id=48613b3cdb50338032a664a14a9619ba

[nc50lc]

I just received an email from cryptopia regarding their stand to this "hacking" incident. [March 18]
It's pretty much the same as the link on the post above. ^

Here are some parts of the email:

Dear Cryptopia Customer
We are writing this letter to update you on the progress we are making after the event that occurred on the 14th of January 2019. You may have heard various comments about this event being an exit scam but rest assured we are 100% committed to reopening the exchange, bigger and better and to continue trading.
.......

I wonder where did they find those "exit scam" comments  

DID YOU KNOW???

Cryptopia, the New Zealand-based cryptocurrency exchange that was the target of two hack attacks in January, is gearing up for relaunch by taking new steps. In what could be a novel development for a cryptocurrency exchange, Cryptopia announced on 11 March, the option for users to cancel orders.

Reported for Plagiarism.
Reference Link: https://ambcrypto.com/cryptopia-allows-users-to-cancel-orders-as-it-prepares-for-re-launch/

[mr.relax]

From my amount of BTC-Funds at Cryptopia 14% were taken.

14.0489% BTC was lost in the January 2019 event. 0.

I didnt even know any BTC were stolen, thought it were only ETH and ETH-tokens.
Maybe they haircut all coins?

[condoras]

From my amount of BTC-Funds at Cryptopia 14% were taken.

14.0489% BTC was lost in the January 2019 event. 0.

I didnt even know any BTC were stolen, thought it were only ETH and ETH-tokens.
Maybe they haircut all coins?

As far as i recall/remember they confirm that losses involves ETH and one or two ETH tokens.
I just check my account and it shows the same balances. The only difference is that all my open orders have been canceled and not by me.

And i wonder... If they canceled all the open orders of all their customers, then how books still have open orders and are not at 0?

[pinoycash]

As far as i recall/remember they confirm that losses involves ETH and one or two ETH tokens.
I just check my account and it shows the same balances. The only difference is that all my open orders have been canceled and not by me.

And i wonder... If they canceled all the open orders of all their customers, then how books still have open orders and are not at 0?

Everyone suffers the a haircut on their balance

Based on discord

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

And based on this figure they lost more than ETH and ETH tokens.

Trading resumed in some market but still NO WITHDRAWAL

[condoras]

Everyone suffers the a haircut on their balance

Based on discord

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

And based on this figure they lost more than ETH and ETH tokens.

Trading resumed in some market but still NO WITHDRAWAL

My mistake guys, unfortunately you are both right...
So we get a haircut instead of compensation? Nice strategy, will keep a lot of us there when they start working normaly...

[xtraelv]

Everyone suffers the a haircut on their balance

Based on discord

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

And based on this figure they lost more than ETH and ETH tokens.

Trading resumed in some market but still NO WITHDRAWAL

My mistake guys, unfortunately you are both right...
So we get a haircut instead of compensation? Nice strategy, will keep a lot of us there when they start working normaly...

The lost funds are replaced with the CLM token as a loss marker. The exact method of how this will work they haven't announced yet.

[nc50lc]

The lost funds are replaced with the CLM token as a loss marker. The exact method of how this will work they haven't announced yet.

That's B****hit.
If clients get their hands on their lost balance as a single token (CLM) all at the same time,
its price will decrease drastically after the obvious "sell race™" that users will do to get their preferred "exit coin".

I still prefer the 100% free haircut over an ECR20 token.