Cryptopia Hacked. Will BTC Crash?

[alexey14]

Cryptopia Hacked. Will BTC Crash?
I think they eat people money and than they say their Exchange hacked.

[FUD Expert]

Cryptopia Hacked. Will BTC Crash?
I think they eat people money and than they say their Exchange hacked.

Oh god, I never knew that one of the first exchanges I used and trusted would also make a final exit in this hard times. Cryptopia is not a huge exchange so I doubt that they will leave a negative impact on the marketcap but it's really good on pumping several altcoins.

[100bitcoin]

Damn. Another chaos begins.

https://www.coindesk.com/new-zealand-crypto-exchange-cryptopia-goes-offline-citing-major-hack

[wildey]

Damn. Another chaos begins.

https://www.coindesk.com/new-zealand-crypto-exchange-cryptopia-goes-offline-citing-major-hack

if this is true, then this is the first bad news I heard at the beginning of the year. well, i don't know whether this is true or not. however, if this is true, I think this is really something bad. I think Cryptopia is a good exhcanger. I have done transactions there. well, but maybe this will affect the price of bitcoin again.

[bp124]

If  Cryptopia can come with such a sad news that their  system is been  attack by hacker then i don't know what exchange to trust now .. When its come to digital  world the most important thing to notice is security  .. If such a big Exchange platform like cryptopia is been  hacked how come the small exchange ..  I really  agree with  you .. they have mistake used poeple crypto  asset and Now  they claim that , their system  is under attack  ..

[bitfocus]

I don't think BTC will crash just for this hack, hacks are happening almost every week, BTC is stronger to sustain that, but I am wondering if the members will get back their investment of not.

[shinharu10282016]

Damn. Another chaos begins.

https://www.coindesk.com/new-zealand-crypto-exchange-cryptopia-goes-offline-citing-major-hack

What. Just when the market is recovering. How are they're supported altcoins going to secure their tokens now?

A big security breach at the start of 2019.

Holy moly.

[blockman]

How many times that exchanges got hacked? is there something new that we can think of? there's almost no effect with the said hack. The price of the crypto market didn't even crashed.

It's still stabilizing and why it should crash? unless the hackers start to dump all of the coins that they bought. And these hacks can't be also be said as real penetration because on the history, there were some hacks done as inside job.

[cokroalif]

It's very regrettable, cryptopia has a lot of fans and also a lot of coins and tokens that list there

First Crypto Hack Of 2019
https://www.newsbtc.com/2019/01/15/breaking-crypto-exchange-cryptopia-hacked-police-starts-investigation/

[RivAngE]

It's sad, but it won't affect BTC.

First of all, the news are out so whatever effect it would have, it's priced in now... and there wasn't any movement.
As for the stolen coins, it seems they are Ethereum and ERC20 tokens only (https://etherscan.io/tx/0x8a7c2b34f23eee02401e7c3fa1ea2ce8d3132e7ca3811d673ca35898c9535aae)

[eternalgloom]

And this is why you do not keep your coins in exchanges, ladies and gentlemen.
I know you kind of have to, if you're actively trading, but I hope most people are smart enough not to keep their entire stash on a web-wallet/exchange.

Let's see if they're going to pay everybody back...

[Shiversnow]

This kind of news about exchange hacking is have big impact to all people who have account in that exchange because there are tendency that their fund will lose or their entire token will be gone. Talking about the bitcoin it will not crash so we do not need to worry.

[gentlemand]

Of course not.

It seems like $2.5 million of ETH went missing plus a few other bits and bobs. That's a drip in the ocean. Cryptopia has been a piece of shit since it was stampeded during the bubble and never recovered. No one other than the small number of people left on there will miss it.

[Dvd1989]

Early 2018 exchange hack would've sent prices tumbling; near bottom bear market shows you that the news is ultimately irrelevant, and all previous dumps were whales playing whale games.

[seoincorporation]

Cryptopia Hacked. Will BTC Crash?
I think they eat people money and than they say their Exchange hacked.

Well, there are $13M lost, i don't think this will affect bitcoin because the hack was for ETH, CENNZ and DAPS. At end $13M will not move the markets, last time when we see the crash (from $6500 to $4000) it was because of 200k btc. So, don't spect a hard crash this time.

Source: https://www.reddit.com/r/Cryptopia/comments/ag75rs/cryptopia_hack_analysis_min_13000000_stolen/

[geminiboy]

And this is why you do not keep your coins in exchanges, ladies and gentlemen.
I know you kind of have to, if you're actively trading, but I hope most people are smart enough not to keep their entire stash on a web-wallet/exchange.

Let's see if they're going to pay everybody back...

if this is purely a cryptopia security system error, all investor losses must be paid, if the market does not pay, the cryptopia will be left by all investors immediately

[erikoy]

Cryptopia Hacked. Will BTC Crash?
I think they eat people money and than they say their Exchange hacked.

What another hack for real? I will have to search for this one on google if it is real and then if it does then a huge possibility that it will going to bring down bitcoin market price. The bear market has gotten long enough now since last July of the year 2017. It was being recorded at that moment for 10K USD for btc and that was also relatively good but seeing now the 3.6K and the possibility to bring down for more then it would be a disgrace for BTC and crypto market.

[nydiacaskey01]

I don't think there will be an effect in the price of Bitcoin because of this crash. Cryptopia's trading volume is not that big enough to cause panic. May if the site that was hack is among the top 5 exchange sites, maybe there will be an effect. Just look at coinmarketcap, Cryptopia is not even in the top 10 based on volume.

[bakasabo]

Dont think that the fact that Cryptopia was hacked can somehow affect Bitcoin price.
Just take a look on this exchange on coinmarketcap:

• More than 800 trading pair
  
• Volumes are not high
• 210 place out of 233 among all the exchanges
  

For me looks like an exchange where people trade their shit and scam coins mostly.

[BrewMaster]

first of all, for an exchange hack to affect bitcoin price it first needs to be a major exchange with a high volume. something in at least top 10 exchanges. Cryptopia has been such a tiny exchange. i believe it had a rank above 100 among other exchanges. such exchange getting hacked is not going to change anything at all.

second of all, Cryptopia has been acting shady for a while now and being hacked was one of the possibilities that was expected out of such exchanges. most people cashed out of it a very long time ago.