Cryptopia exchange hacked

[Dreamchaser21]

They lost around 20k ETH.
A token listing there cost 350 ETH at one point (paid in DOT).
They listed around 500 tokens.
Their fees are amongst the highest in crypto.

I think they have a responsibility to use their profits and put the exchange back on live.

They will live again only if they are serious to solve this problem. its sad to hear another news like this and I thought we already learn from the previous hacking incedents with the big exchanges.

"NOT YOUR KEYS, NOT YOUR BITCOIN" -Aantonop

I’m quiet scared on this line, and I hope no more exchange will be hack especially with binance.

[bitcoinsc]

If I had kept my money in the bank it would still be there. But now I'm in this situation that my funds are held. So much for sound money.  Every 6 months the exchanges gets hacked. This is not gonna drive adoption or fomo.

[mk4]

*snip*

We already have DEXs, but none of them are user friendly enough to beat centralized exchanges unfortunately. Better DEXs will come in time I guess.

waves dex never suffers from hack attacks,
stop using centralised exchanges

This is actually the first time that I somewhat slightly agree with you to a certain extent.

I never used this exchange. I strictly use Binance for the security.  I hope anyone that lost some ETH will get their funds back.

As much as I want people to get their stolen funds back, I highly highly doubt it. Also, I hope you don't see Binance as something "unhackable", because they really aren't.

"NOT YOUR KEYS, NOT YOUR BITCOIN" -Aantonop

I’m quiet scared on this line, and I hope no more exchange will be hack especially with binance.

Hoping wont stop it from happening. Binance might be more secure compared to others, but Binance is NOT invulnerable to hacks. Nothing is. The best way to protect yourself is to learn how to secure your funds by yourself.

[BlackPanda]

This is bad news, when there is a hacking action on the exchange then it will make a bad impact on the market situation of Bitcoin and Altcoin. The fact is that in fact there has been a decline in prices, this has also happened for several years and caused prices to drop dramatically. This is why we must choose an exchange that does have very good security features, a good reputation will make the exchange more secure and reliable.

[Commitments]

Last day Cryptopia exchange hacked and make news about bitcoin will be negative, I don't how come biggest exchange market could be hacked by some people, how about their security safe or not, before making bigger exchange why not keep added best security for their exchange.

[Juggy777]

Good timing, ain't it? Just 2 weeks after the "Proof of Keys" event. Remember: "NOT YOUR KEYS, NOT YOUR BITCOIN" -Aantonop


From Cryptopia_NZ Twitter(https://twitter.com/Cryptopia_NZ/status/1085084168852291586):

Hey this is a bad event and I can’t help but feel sad for all those people who had coins on Cryptopia, I wish they’ll be able to withdraw their coins going ahead. In my initial days I used to hold my coins on exchanges, but then I realised despite all their securities they cannot be trusted. I have repeatedly said here, and will keep on saying your coins are safer in a wallet with you rather than a exchange, which are a must avoid.

[flemmings02]

It's barely 15 days in to 2019 and this happened. I just do not want 2019 us to have another 2019 with many crypto exchange hacks like it was in the last year, The hack is also a factor that affect the decline in prices last year after huge sell orders of those stolen assets.

[pooya87]

It's quite unusual that even at this day and age, with a lot of techniques and new practice on safeguarding a platform, hackers are still able to get through even with the robust of security systems. I wonder how tight their security are and what their system admins do for the hackers to still find a vulnerability on the platform. Also, this stresses the age-old question of whether to keep your funds in an exchange or not, and the answer is laid right before our eyes every time a theft occurs.

there is nothing unusual about it because simply there is no computer security system in the whole world that is impenetrable. every system has some weakness. some have less and some have more but all of them can be broken into and when the incentive is high enough (in this case a large amount of money) there will be lots of attempts.

besides, most cases of exchange hacks were fake news where the exchange itself tricked their users and stole their money because they were going bankrupt and wanted to save their asses.

[mangsitin]

That is a row of bad news that continues to occur on Cryptocurrency, a week ago we saw the Gate.io market has been hacked and thieves stole Coin Ethereum Classic, and now we all mourn because the Cryptopia market has been crushed, I hope to all exchange markets to be careful to protect user assets, so hacking does not happen again.

[Jating]

That is a row of bad news that continues to occur on Cryptocurrency, a week ago we saw the Gate.io market has been hacked and thieves stole Coin Ethereum Classic, and now we all mourn because the Cryptopia market has been crushed, I hope to all exchange markets to be careful to protect user assets, so hacking does not happen again.

I'm sure that exchanges are really doing their best to protect user's assets, but remember that hackers are very smart and intelligent as well, they're like one step ahead of the game every time.

So as much as we don't like to see exchange being hack, it will occur. The only thing we can do is not to put all our money in an exchange so that in a event of a hack like this, we won't see our funds swept in a blink of an eye.

[Horas1976]

This news made us more cautious and cautious about the exchange of decentralization, cryptopia was the first exchange that had been hit early this year, alarming. Users must have other exchanges to be safer for their assets. It seems that Binance can provide security.

[Kakmakr]

The Proof of Keys event rattled the cage and I think a lot of exchanges might follow the same fate. I am not saying that this was a inside job, but some exchanges might do this to hide their fractional trading strategies. The coins stolen might not even existed at all and this might be a strategy to use this as an excuse to go bankrupt.

The authorities lack the knowledge to investigate most of these hacks, so most of these corrupt exchanges walk away without any repercussions.     

[capitan_rocotan]

It seems to me that now you cannot trust anyone, rely only on yourself. And always calculate the possible risks. You never know what awaits you tomorrow ...

[kaizerblitz]

WOW  Crytopia is one of my favorite exchanger i can't deny it that there security is very secured they have authenticate before you can log in to your account but it seems hackers are smart i hope other exchanger will aware on that happening.

[royalfestus]

The list of hacked exchanges are just getting larger. That is the downfall of the strictly centralized exchanges. In 2018, hackers managed to syphon out around 731 million usd from exchanges and cryptopia is the first one in 2019. I am sure, this is not the end and the list will grow even larger in 2019.

Can decentralized exchanges be the solution to prevent such hacks? Since centralized exchanges keep their money into a centralized location, it's lucrative for the hackers. But in decentralized exchanges, handling of money is controlled by the users and not kept in a centralized location. What do you guys think? Should we pay more attention to decentralized exchanges going forward?

The challenge is the size of coins decentralized exchanges are willing to add from other blockchain platforms. If I can also remember etherdelta(decentralized exchange) was also hacked in 2017.

[killat]

I saw a lot of people thinking this is the way Cryptopia will exit as a scam. It could be an exit scam event but more likely they did get hacked as was only about 2Mil stolen. If they were going to exit scam im sure they would have stolen be alot more.

[sfr2017]

 what happened to Cryptopia it's a good exchanger of a great volume of transactions without a high security that hackers can stole it, It's a very bad news in the begining of the new year.

[Lexurdania]

Hopely there is no more exchanger getting hacked again. Its true that we should store our coin in our own wallet but many people want to trade and store their coin in exchanger. Hopely, after cryptopia incident, most big exchanger increasing their security to avoid hacking

[eiijee160613]

Ouch, This is really annoying to read for it's one of my favorite exchange to use since I'm in cryptocurrency. hackers always find a way to breach this small and but good exchanges.

[sempak]

Add a bad list of cryptocurrency and exchange. Cryptopia, the old exchange category, also experienced an unwanted thing, namely experiencing hackers. this will make the market unstable