Cryptopia exchange hacked

[Sadlife]

This is a perfect example to not put all the egg in one basket. In fact we never actually know how much funds does an exchange actually has for example in the "proof of keys" event do they really have all the money to pay their users if all of them withdraw their funds. And even popular exchange, there's also a risk that it can be vulnerable due to neglected or weak configurations or bug.

[pityunbent]

How much was stolen from the hack?

[bitcoinsc]

I diversify my crypto exchanges as well. In case things like this happens. But I don't want it to ever happen. Only a year in crypto n I got hacked already.

I want my bitcoins back. If the exchange goes live I'm withdrawing funds. It's in the hands of the athority now. So I'm not even sure if I'm getting my money. This is a nightmare I got 3/4 a Bitcoin in there. If btc dumps to 2500$ I'm gonna have a heart attack. That's a year of my savings.

Do you mean that all your money are in Cryptopia exchange.? I'll doubt if you can get it back,  a lot of people were storing their money on there and could possible that the owner/team won't pay them and even given a share from.
Supposedly, you won't put all your money in just one exchange and I believe you are aware of that. It sad it have a less chances for your claims but you can just try.

[Ribbitforum]

How much was stolen from the hack?

There is no exact amount yet how much was stolen, im also waiting for the update in cryptopia social page and newzealand police website hopefully cryptopia will open the withdrawal of unaffected coins

[figmentofmyass]

How much was stolen from the hack?

there are no official numbers. cryptopia refuses to release that info, citing the police investigation. but circumstantial and blockchain evidence point to $10 million+ USD equivalent, most of which seems to have been ERC-20 tokens (dentacoin, metal, trueUSD, etc): https://finance.yahoo.com/news/cryptopia-alleged-hack-police-case-200800523.html

[Jating]

https://www.reddit.com/r/Cryptopia/comments/agkiwh/fundraiser_for_cryptopia_hack_victims/?ref=readnext

Just look at this. Fund raising? or just another attempt to steal?

On another note, it looks like the hacker has moved some of the funds in Binance but they quickly freeze the account.

https://cointelegraph.com/news/cryptopia-alleged-hack-police-are-on-the-case-while-community-tracks-down-stolen-funds

Some of funds have been frozen, Cryptopia users are preparing a lawsuit

It seems that at least some of the stolen tokens have been frozen. On Jan. 16, after being tagged by a Twitter community member, Binance exchange CEO Changpeng Zhao said that he suspended “some” of the funds affiliated with Cryptopia after they ended up on his platform’s wallets and claimed that he will freeze more if social media users report them.

[kramchers]

I know about this news and this is sad because i have some tokens there.
I just bought half million pcs of LOYALCOIN which i am not yet withdraw to my wallet.
I hope they can give date when they will open again the exchange. BTW hacker sent the tokens to BINANCE account which is now on freeze./

[Ava Duvall]

whether the attack is large and can make the cryptopia close?

They are not quick to even call it a hack, but seeing that others ar even looking to file lawsuits against Cryptopia, the situation doesn't look that bright. Hopefully they will recover, since it's an ongoing investigation, only time will tell what will happen to Cryptopia.
https://cointelegraph.com/news/cryptopia-alleged-hack-police-are-on-the-case-while-community-tracks-down-stolen-funds

[Unblock_news]

https://www.unblock.news/news/cryptopia-hack-leads-to-significant-losses-1 more details here.

[Supremacy1]

It is sad , I pity those fund that involved , that is why it is advisable not to keep coin u are not selling on exchange , better to get an offline wallet to avoid story that touched

[meanwords]

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?

That's what I was thinking. I feel like most of the hack incidents that happened in 2018 are inside jobs. I think it was just a play to prevent any suspicion from the people so that they could steal money. I've been digging into some decentralized exchanges and I think it is time to transfer to them.

[BitBite5]

It's a big risk if you keep your funds on exchange. You never know when such incident can occur and when they do then you worry again if your funds will be refunded. Don't ever keep on a exchange more than you need for current trading and split your funds among different exchanges, that is one way to mitigate the risk.

[boyptc]

It is sad , I pity those fund that involved , that is why it is advisable not to keep coin u are not selling on exchange , better to get an offline wallet to avoid story that touched

While CZ saved and frozen all of those reported fund that went to Binance.

He adviced the other thing, I wont keep any good amount of crypto to any exchange. And Ive been doing this for years, thanks to the advice of people here who have been quite awhile in the forum.

[South Park]

I hope that after this situation, other exchanges will be better towards cybersecurity. The risk of hacker theft is one of the reasons why some people do not keep money on the exchange and do not actively trade.

I am sure they already doing whatever they can to secure the coins of most of their clients since being hacked is terrible publicity not only for the exchange that was hacked but for exchanges in general, but it is not easy since exchanges are a big business and they need to interact with their clients which means that a hacker has hundreds of opportunities to try to get control of at least one computer in their network and try to get to the money from there.

[Burogh]

Its bad for beginning year. I am reading in few online media that the coin lost worth more than $12million and its bad for cryptocurrency. Hopely with this incident, others exchange increasing their security and its better for crypto investor holding their coin in their own wallet and not store in exchanger wallet

[mithon2017]

it is really sad news. but everyone should be careful. hacker is big problem of block chain technology. it is harmful on our minds. everyone should be careful your wallet. before exchange , check your other options. always choose other methods for storing crypto.

[TradingIsBreath]

What the hell?

Ugh, can we ever get an exchange that allows you to have your own keys? EVER? Jesus fucking Christ, we only need more reasons to show people how things change.

Is there any word on whether or not the lost funds would be compensated to its users?

It is better to use non-custodial exchanges. Where your wallet private key is with you. Regretting after the loss has no point. I prefer using CoinSwitch.co as they are non-custodial exchange also they have 350+ coins listed and 45000 coin pairs.

[ynatopak14]

When will CRYPTOPIA be open again or will they still be going to open in the future?
It seems they need to upgrade their security and make sure that the hacking will never happen again.
I am one of the user with many coins on the exchange of CRYPTOPIA.

[TheClownSong]

When will CRYPTOPIA be open again or will they still be going to open in the future?
It seems they need to upgrade their security and make sure that the hacking will never happen again.
I am one of the user with many coins on the exchange of CRYPTOPIA.

I think cryptopia still running the bussiness in the future. Its just police investigation and i think cryptopia doing a transparant way. Its very risky store our coin in exchanger wallet because exchanger more vulnerable to hack. Better keeping our coin in our wallet and secure the private key

[UmerIdrees]

When will CRYPTOPIA be open again or will they still be going to open in the future?
It seems they need to upgrade their security and make sure that the hacking will never happen again.
I am one of the user with many coins on the exchange of CRYPTOPIA.

I think cryptopia still running the bussiness in the future. Its just police investigation and i think cryptopia doing a transparant way. Its very risky store our coin in exchanger wallet because exchanger more vulnerable to hack. Better keeping our coin in our wallet and secure the private key

Yes, cryptopia  was a good exchange and it was one of the best exchange for low volume coins. Many people say that cryptopia hack is an insider job which is feel is not correct. If it was insider job, they would not have involved the NewZealand police to investigate the theft.