Cryptopia exchange hacked

[squatter]

Anyone here already got a successful withdrawal by now? (BTC,LTC,Doge)

Yes I got my BTC out, already last week.
BUT: My Altcoins are not tradeable against BTC and I cannot withdraw.
So since 3 Months they block the money.
Its not only the haircut, but still lack of info and no progress at the altcoins.
They autoclose tickets.
They lie about the (almost nonexistent)progress.
They have no plan to slowly pay the loss-tokens back, not even a promise...

Sadly, they probably won't be able to -- at least from the look of these pitiful trading volumes and the loss of trust after this pathetic relaunch. This situation increasingly reminds me of Vircurex. After being hacked in 2014, Vircurex attempted to maintain services and slowly paid back a small portion of the losses. But trading volume died and they eventually just stopped processing withdrawals. Then they disappeared.

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[carlfebz2]

Anyone here already got a successful withdrawal by now? (BTC,LTC,Doge)

Yes I got my BTC out, already last week.
BUT: My Altcoins are not tradeable against BTC and I cannot withdraw.
So since 3 Months they block the money.
Its not only the haircut, but still lack of info and no progress at the altcoins.
They autoclose tickets.
They lie about the (almost nonexistent)progress.
They have no plan to slowly pay the loss-tokens back, not even a promise...

Sadly, they probably won't be able to -- at least from the look of these pitiful trading volumes and the loss of trust after this pathetic relaunch. This situation increasingly reminds me of Vircurex. After being hacked in 2014, Vircurex attempted to maintain services and slowly paid back a small portion of the losses. But trading volume died and they eventually just stopped processing withdrawals. Then they disappeared.

Cryptopia would be heading on the same path.This is the problem on where exchanges getting hacked because trust of its users cant really able to gain back which means majority of them will really switch into those flawless or non tarnished exchangers rather than entrusting their coins into an exchange which do have the history of hacking.It would be just a normal reaction for anyone to experience this problem so i wont be surprised if this would disappear too.

[mr.relax]

They had their chance of regaining trust.
But after 3 months they dont got their exchange running.
You cannot rise from the ashes if you dont try to stand up.

[RivAngE]

They had their chance of regaining trust.
But after 3 months they dont got their exchange running.
You cannot rise from the ashes if you dont try to stand up.

B-but-but... the police... they blocked our entrance... a-and then the weather... such a bad weather, first of all is the employee's safety!
A-A-and th-the coffee machine broke, our employees can't work more than 1 hour per day without coffee.
Al-also, two of our hamsters powering the servers died, so we can't sync more than 1 wallet at a time.

[condoras]

They had their chance of regaining trust.
But after 3 months they dont got their exchange running.
You cannot rise from the ashes if you dont try to stand up.

B-but-but... the police... they blocked our entrance... a-and then the weather... such a bad weather, first of all is the employee's safety!
A-A-and th-the coffee machine broke, our employees can't work more than 1 hour per day without coffee.
Al-also, two of our hamsters powering the servers died, so we can't sync more than 1 wallet at a time.

It's true that they come up to with more than 1mil excuses and it's well known already their "remarkable" customer service...
We can only (?) wait and hope that all the coins will be active.

[harizen]

If they are not trying to regain trust or just want to disappear completely, they shouldn't allow withdrawals in the first place and let customers hanging for a long period of time by posting/tweeting they are really working.

That action is way better than those exchanges that turned scammed completely and leave without a trace.

I'm sicked of waiting whether what happened now to our altcoins there but I don't mind waiting now that they achieved even small progress.


Ok now confirmed that BTC withdrawals are now smooth. Those people who able to withdraw now can freely say goodbye to that exchange. Don't have BTC there, only altcoins, but the fact they allow withdrawals, hoping the next progress will now be on other altcoins (finger crossed).

[TheHas]

Cryptopia needs to give it up. This random new zealand exchange was fine back when altcoin exchanges were almost non-existent, but now there is so much competition they need to do better or exit the business.

Take your business elsewhere to a decentralized exchange or somewhere that has rock solid security.

[pinoycash]

Cryptopia needs to give it up. This random new zealand exchange was fine back when altcoin exchanges were almost non-existent, but now there is so much competition they need to do better or exit the business.

Take your business elsewhere to a decentralized exchange or somewhere that has rock solid security.

Until they refund everyone with their hard earn money and all CLM Coins properly compensated they cannot give up and abandon their exchange. They should returned everything to all their users upto the single satoshi on each and every account.

[condoras]

Cryptopia needs to give it up. This random new zealand exchange was fine back when altcoin exchanges were almost non-existent, but now there is so much competition they need to do better or exit the business.

Take your business elsewhere to a decentralized exchange or somewhere that has rock solid security.

Until they refund everyone with their hard earn money and all CLM Coins properly compensated they cannot give up and abandon their exchange. They should returned everything to all their users upto the single satoshi on each and every account.

I really dought that they will return everything back to us. Besides if they want to do just that, why they make a haircut and issue a new token?

[harizen]

Cryptopia needs to give it up. This random new zealand exchange was fine back when altcoin exchanges were almost non-existent, but now there is so much competition they need to do better or exit the business.

Take your business elsewhere to a decentralized exchange or somewhere that has rock solid security.

Crytopia already allowed BTC withdrawals and that's a good action by them rather than be silent for long time and left without a trace. The said action lead others to get out to that exchange with their funds which is a good thing.

If you don't have an active funds left on Cryptopia prior to hacked then stop giving people an advice about using another exchanged instead. We know what we are doing.

[pinoycash]

Cryptopia needs to give it up. This random new zealand exchange was fine back when altcoin exchanges were almost non-existent, but now there is so much competition they need to do better or exit the business.

Take your business elsewhere to a decentralized exchange or somewhere that has rock solid security.

Until they refund everyone with their hard earn money and all CLM Coins properly compensated they cannot give up and abandon their exchange. They should returned everything to all their users upto the single satoshi on each and every account.

I really dought that they will return everything back to us. Besides if they want to do just that, why they make a haircut and issue a new token?

They should be returning everyone coins by now except those that been affected by hack, But until now they choose to ignore their customer plead in opening withdrawals of other coins,.

Basically they are forcing their users to sell their coins at loss in the BTC market so they can withdraw their money out of cryptopia.

Imagine on Cryptopia people are selling their ETN at 69 sats while the real market price of each ETN is 90 sats in other exchanges,. Its a hard pill to swallow that people have no choice but to sell their ETN at loss for BTC, So they can withdraw their money out of their system.

[mr.relax]

At least you can exchange and withdraw. My Altcoins show market-disabled, so i cannot withdraw or exchange to a withdrawable currency.
Cryptopia are SCAMMERS

[Netnox]

At least you can exchange and withdraw. My Altcoins show market-disabled, so i cannot withdraw or exchange to a withdrawable currency.
Cryptopia are SCAMMERS

If they are scammers, then why should they enable the withdrawals? Already most of the users have withdrawn their coins from the exchange. And regarding the altcoins, I was able to convert most of my altcoins to BTC, and then to withdraw them. Can you tell me which alt is having the market disabled? IMO, we need to give them more time. They are still in a recovery phase and we need to be patient.

[mr.relax]

Given Ex. is Loki, but also other coins cannot been traded now and not withdrawn

[condoras]

If they are scammers, then why should they enable the withdrawals? Already most of the users have withdrawn their coins from the exchange. And regarding the altcoins, I was able to convert most of my altcoins to BTC, and then to withdraw them. Can you tell me which alt is having the market disabled? IMO, we need to give them more time. They are still in a recovery phase and we need to be patient.

There is though a general question. How much time they need in order to have wallets for all the coins? Their excuse is that they need the devs of those alts...
Btw a lot of coins are not available, even if the market is open to trade them. That's even more strange, don't you think?

[Zer0Sum]

They had their chance of regaining trust.
But after 3 months they dont got their exchange running.
You cannot rise from the ashes if you dont try to stand up.

B-but-but... the police... they blocked our entrance... a-and then the weather... such a bad weather, first of all is the employee's safety!
A-A-and th-the coffee machine broke, our employees can't work more than 1 hour per day without coffee.
Al-also, two of our hamsters powering the servers died, so we can't sync more than 1 wallet at a time.

They are calculating that trust is gone so pseudo Exit Strategy:

(1)  Freeze all Customer shitcoin transfers.

(2)  Force Customers to dump shitcoins for $0.80 on the dollar... Cryptopia instantly arbs your shitcoin for $0.20 in BTC.

(3)  With BTC mooning and alts tanking this is BIG WINDFALL for Cryptopia...
They could be making as much as $20-30,000/day by freezing Customer shitcoins indefinitely.

(4)  In any civilized country with a Court System (like NZ) this is fraud and criminal...
But when you are totally fucked anyway... hey, you do what you have to do 

[Netnox]

Today I withdrew all my remaining BTC in Cryptopia (around BTC0.08). I wanted to withdraw some of my alts, but it was not possible since the hot wallets were not ready. I was waiting for more than a month now, so lost my patience and converted all my alts to BTC. Now I have just the CLM (Cryptopia Loss Marker) tokens remaining in that exchange.

[dunfida]

They had their chance of regaining trust.
But after 3 months they dont got their exchange running.
You cannot rise from the ashes if you dont try to stand up.

B-but-but... the police... they blocked our entrance... a-and then the weather... such a bad weather, first of all is the employee's safety!
A-A-and th-the coffee machine broke, our employees can't work more than 1 hour per day without coffee.
Al-also, two of our hamsters powering the servers died, so we can't sync more than 1 wallet at a time.

They are calculating that trust is gone so pseudo Exit Strategy:

(1)  Freeze all Customer shitcoin transfers.

(2)  Force Customers to dump shitcoins for $0.80 on the dollar... Cryptopia instantly arbs your shitcoin for $0.20 in BTC.

(3)  With BTC mooning and alts tanking this is BIG WINDFALL for Cryptopia...
They could be making as much as $20-30,000/day by freezing Customer shitcoins indefinitely.

(4)  In any civilized country with a Court System (like NZ) this is fraud and criminal...
But when you are totally fucked anyway... hey, you do what you have to do 

What a nice analysis of that pseudo Exit strategy which is really plausible but we cant still accuse yet but presuming on the things do happening
then theres no doubt that this one is really valid. 

Today I withdrew all my remaining BTC in Cryptopia (around BTC0.08). I wanted to withdraw some of my alts, but it was not possible since the hot wallets were not ready. I was waiting for more than a month now, so lost my patience and converted all my alts to BTC. Now I have just the CLM (Cryptopia Loss Marker) tokens remaining in that exchange.

Lucky for you but for me same as others my altcoin is still locked and cant be traded.

[pinoycash]

They had their chance of regaining trust.
But after 3 months they dont got their exchange running.
You cannot rise from the ashes if you dont try to stand up.

B-but-but... the police... they blocked our entrance... a-and then the weather... such a bad weather, first of all is the employee's safety!
A-A-and th-the coffee machine broke, our employees can't work more than 1 hour per day without coffee.
Al-also, two of our hamsters powering the servers died, so we can't sync more than 1 wallet at a time.

They are calculating that trust is gone so pseudo Exit Strategy:

(1)  Freeze all Customer shitcoin transfers.

(2)  Force Customers to dump shitcoins for $0.80 on the dollar... Cryptopia instantly arbs your shitcoin for $0.20 in BTC.

(3)  With BTC mooning and alts tanking this is BIG WINDFALL for Cryptopia...
They could be making as much as $20-30,000/day by freezing Customer shitcoins indefinitely.

(4)  In any civilized country with a Court System (like NZ) this is fraud and criminal...
But when you are totally fucked anyway... hey, you do what you have to do 

What's your take about USDT?

#3 is a real deal, they are the one buying this coins/tokens below market price to get some profit for themselves. Allowing BTC withdrawal is just a smoke screen to hide their real intention and to buy sometime to prevent people from filling cases against them.

[Netnox]

Today I withdrew all my remaining BTC in Cryptopia (around BTC0.08). I wanted to withdraw some of my alts, but it was not possible since the hot wallets were not ready. I was waiting for more than a month now, so lost my patience and converted all my alts to BTC. Now I have just the CLM (Cryptopia Loss Marker) tokens remaining in that exchange.

Lucky for you but for me same as others my altcoin is still locked and cant be traded.

They started creating the new hot wallets almost 3 months back. And until April, they were giving regular updates. But all of that has stopped now. On April 4, the announced in Twitter that they are 50% through the hot wallet creation process. At this rate, they could have completed this process by the first week of May. But as I mentioned earlier, there have been no updates and so I don't know what's going on. And just a few minutes back, they published this strange tweet:

https://twitter.com/Cryptopia_NZ/status/1128491715608727553

I don't understand much. Are they going to liquidate the exchange?