[Cryptopia] ONLINE ARTICLES related to hack &theft of funds 2022 (non discussion

[paramind22]

All Elite/1337 coins are still there:

https://chainz.cryptoid.info/1337/wallet.dws?32414.htm

[Timelord2067]

All Elite/1337 coins are still there:

https://chainz.cryptoid.info/1337/wallet.dws?32414.htm

2,303,828,263.89713 1337 look to be sitting in a hot wallet with the last withdrawls on the 13th of January 2019.

at one satoshi that makes 23.03 BitCoins worth of 1337 frozen.  Thanks for the heads-up.

[yurimir]

Yesterday's New Zealand police press release - Police making progress in crypto-currency investigation.



http://www.police.govt.nz/news/release/police-making-progress-crypto-currency-investigation

[Winstar78]

I don't understand from ths thread if BTC have been stolen too or not.

[Timelord2067]

I don't understand from ths thread if BTC have been stolen too or not.

A quick check of this website: https://www.walletexplorer.com/ shows there doesn't seem to have been a known Cryptopia wallet(s) for BitCoin.  Most attention has been on the ERC 20 / ETH tokens not the Crypto Coins such as BitCoin, LiteCoin or similar.

Any information will be gratefully appreciated.

[BookeyBitMan]

I read on CoinTelegraph article about Cryptopia "New Analysis Suggests" 01.22.
They wrote that total stolen coins value is 16 million dollars and stolen coins are ETH and ERC20 tokens.
Two wallets is hacked, one for ETH and one for ERC20 token, on the morning of Jan. 13

"In Cryptopia’s case, the thieves’ gained access to as many as over 76,000 wallets, and moreover apparently displayed a lack of urgency in siphoning the funds over time. Elementus moreover suggests that Cryptopia’s inaction — for several days after the incident was detected — may imply the exchange had lost access to its own wallets."

"As previously reported, until now estimations of the lost funds ranged between $3-13 million. Up to 40 Cryptopia users are reported to have sought legal representation in the incident’s aftermath."

How I see this is not good at all......
You can see all details/article here:
https://cointelegraph.com/news/new-analysis-suggests-16-million-in-crypto-stolen-in-cryptopia-hack

[Timelord2067]

Hi @BookeyBitMan and thanks for the tip off for the article.

Most sites will have now covered the same ground, so it pays to just check with the first three posts in this thread to ensure the details aren't just being rehashed.

I'll add the link to the relevant post later this afternoon.

Kudos.

[Timelord2067]

Other new Zealand based news agencies:

Radio New Zealand have people on the ground in Christchurch.

Then there's TVNZ https://www.tvnz.co.nz/one-news/new-zealand/nearly-6-million-in-transactions-took-place-early-hours-day-christchurch-cryptocurrency-exchange-cryptopia-suffered-security-breach

and Future Five https://futurefive.co.nz/results?search=cryptopia

...so don't put all your news feeds into the one basket.    

[xtraelv]

Engineering is not watching the crystal ball. There are no 'hard things to do', but rather things that are either working or not.
51% is detected by software modules, monitors (and not by visually examining blocks in the chain), and they can trigger alerts.
Most coins are BTC forks so the way you set alert for one coin, you can set to all other coins.
If for whatever reason you can not set alert for specific coin, you do no list that coin, as security monitoring is essential and very basic responsibility for any exchange.
If there is no security there is no exchange.

I think you missed the point. I totally agree that coins that are unable to secure their blockchain have no place on an exchange and need to be delisted / not listed.

While it is important for exchanges to monitor blockchain operation and developments - ultimately the security of the blockchain is the responsibility of the developers of that blockchain.

Saying the exchange is responsible is like saying a reseller of software is responsible for the software itself. Ultimately the responsibility of the reliability of the operation of the software lies with the software developers.

If I sell something and the bank (blockchain) confirms the deposit and then I send the goods based on that advise - and later the bank reverses the transaction (after I sent the goods) then the problem has occurred at the bank (blockchain). Whether it is "open source", "decentralized" or whatever  - it is irrelevant. The initial failing is at blockchain level.

There are certain things that an exchange can monitor.  Ultimately if a blockchain gets attacked then the blockchain needs to fix the problem or get delisted.

Some blockchains have realized that and solved the issue while other conveniently shift the blame.

You will find that there are always those that disagree in opinion over this but by nature of a 51% attack - it cannot be detected until after it has occurred. Therefore if it can occur easily - the blockchain no longer has a valid commercial use.

Lets not forget, you do not have to list all those coins. It is a choice, not must!
As I said, if you do not have monitoring system for specific type of coins you do not list them.

Don't forget that coins pay to be listed and part of that they agree to the conditions of listing. It is a binding contract.
Some of the coins were listed well before 51% attacks became a valid security issue.

Blaming coin devs is not the way to go.

When a coin is exploited and fail to meet the conditions of listing (breach of contract)  then they are to blame.

Legit coins take their responsibilities seriously:

https://medium.com/floblockchain/flo-team-response-to-51-attack-8c9ef683d7ba
https://blog.zencash.com/zencash-statement-on-double-spend-attack/

Vertcoin (VTC), a peer to peer crypto software blockchain, recently experienced a 51% attack where the blockchain experienced four successful reorganizations.

The interesting thing about the attack is that Coinbase was commenting live about the event which gave the exchange a competitive advantage over Binance and Bittrex.

Coinbase went ahead to claim that all exchanges offering fiat based trading pairs and a wide range of assets could continue to fall victim to such attacks.

https://www.cryptodigest.com/exchanges/vertcoin-experiences-a-51-attack-coinbase-takes-advantage/

This verticoin block 1044331 Had a re-org depth of 310 blocks and two double spends targeting exchanges.
http://explorer.vertcoin.info/block/5313791a34a89e55c41b1522f6b5b607dad88b839e05432cbe9620e2f5e46bf1

[xtraelv]

When they sent bills to developers that bill was min 10 times bigger.

But the coin developers also didn't detect the 51% attacks and act on them. They have only one network to monitor and are contractually obliged to monitor it.

[xtraelv]

When they sent bills to developers that bill was min 10 times bigger.

But the coin developers also didn't detect the 51% attacks and act on them. They have only one network to monitor and are contractually obliged to monitor it.

can you show those contracts that you are talking about?

https://support.cryptopia.co.nz/csm?id=kb_article&sys_id=5d7482d2db9e9bc032a664a14a96199f

Before you list, be aware of your obligations to us to help maintain your listing.

You need to give us notice of the following:

At least 2 weeks' notice of any significant code or protocol changes for your coin, especially hard forks.
Major issues with your coin, including hacks or network problems, as soon as you become aware of them.
Any issues with deposits or withdrawals of your coin from Cryptopia.
At least 1 month's notice if you want our assistance with an air drop. Be aware that support for this is solely at our discretion.
As much notice as possible if you need to conduct a coin swap. By default we don't support coin swaps, but they may be considered on a case by case basis.
Cryptopia reserves the right to remove any coin listed in its exchange markets for violations of our listing terms. This is solely at our discretion. Reasons a coin may be eligible for delisting include, but are not limited to:

Any network issues or vulnerabilities that could be exploited. Examples include:
Low hash-rate.
Out of date code base or wallet stability issues.
Frequent issues with deposits or withdrawals (outside of Cryptopia's control).
Insufficient nodes to keep the wallet synced and network propagating transactions.
Coins which violate our terms and conditions, policies, or an applicable NZ law or regulation
Coin swaps (where we are unable to support these)
Coins without a working, reliable block explorer
Coins that fail to provide notification of mandatory updates
Abuse directed by a coin team's core community at Cryptopia or its staff.
At our discretion, Cryptopia may issue a warning for breaches of our listing terms and conditions and provide the coin team an opportunity to rectify any issue(s).

Coins issued with a delist notice will have their markets closed and there will be a 30-day notice and withdrawal period before the listing is removed. This information will be published on our coin info, delisting, and market pages and we will endeavour to email all affected users holding positive balances of the coin.

 

[xtraelv]

You like to keep confusing people, dont you?

Policies are not contracts !

Policies you can change any time anyhow.

Contracts consider two sides bindings.

I think the words Before you list, be aware of your obligations - makes it quite clear.

A "Terms Of Service" is a contract. A reference to their policies is specifically mentioned in their TOS.

I don't work for Cryptopia so I'm not privy to the discussions that coin devs have with their staff.

However - I know that they have had a similar listing & delisting policy published on their site since early 2016.

[xtraelv]

Is 'First come first serve' legal or not?

The only thing that would be stopping payments in such a scenario is the blockchain ledger balance which was fraudulently altered by the 51% attack.

[xtraelv]

Is 'First come first serve' legal or not?

The only thing that would be stopping payments in such a scenario is the blockchain ledger balance which was fraudulently altered by the 51% attack.

yes or NO?

I don't think it is legal that the blockchain is dishonoring the blockchain balance it initially confirmed prior to being exploited and fraudulently altered by a 51% attack.  Do you ?


There are numerous things a coin can do if it does not have sufficient hashrate to protect the network:

Checkpointing. 
Changing to a less vulnerable algorythm
Introducing a hybrid system.
Utilising masternodes.

[xtraelv]

Is 'First come first serve' legal or not?

The only thing that would be stopping payments in such a scenario is the blockchain ledger balance which was fraudulently altered by the 51% attack.

yes or NO?

I don't think it is legal that the blockchain is dishonoring the blockchain balance it initially confirmed prior to being exploited and fraudulently altered by a 51% attack.  Do you ?

This conversation is done.

Your refusal to answer the question and use of an alt account to post speaks volumes. Which 51% attacked coin are you representing ?

[Timelord2067]

Is 'First come first serve' legal or not?

No, it's not.

It's trading while insolvent.

@xtraelv

By your own admission you are not an employee of Cryptopia; your comments here are both disruptive and no longer welcome.

Both @xtraelv and @an00b please take your discussion to the Cryptopia Cryptocurrency Platform Services and Development https://bitcointalk.org/index.php?topic=1669443.0 thread which is an open discussion about Cryptopia started by one of the founders of Cryptopia, TripleHeXXX.

This thread is for documenting ONLINE ARTICLES related to hack & theft of funds 2019 and as such further outbursts by either of you will be reported to the moderators of this section.

[Timelord2067]

That should read "Both @xtraelv and @an00b please take your discussion BACK to the Cryptopia Cryptocurrency Platform Services and Development https://bitcointalk.org/index.php?topic=1669443.0 thread which is an open discussion about Cryptopia started by one of the founders of Cryptopia, TripleHeXXX." as I saw this after commenting:

There is on other thread some interesting conversation about 51% going on that might deserve a bit more attention, so I decided to link it here
https://bitcointalk.org/index.php?topic=5097916.msg49444798#msg49444798

@xtraelv

By your own admission you are not an employee of Cryptopia; your comments here are both disruptive and no longer welcome.

Because @an00b instigated this exchange and posted the above, s/he is similarly banned from posting in this thread.

[psycodad]

Website: https://www.coindesk.com/hackers-just-stole-another-180k-in-ether-from-cryptopia-exchange
Title: Hackers Just Stole Another $180K in Ether From Cryptopia Exchange
Byline and Date: Yogita Khatri Jan 30, 2019 at 15:15 UTC
Archive link: archive.today

[BookeyBitMan]

Original article link: https://elementus.io/blog/cryptopia-hacker-strikes-again-15-days-later/

- Cryptopia_Hack1 Balance: 0 Ether
- Cryptopia_Hack2 Balance: 30,789.63917325939691203 Ether
- Cryptopia_Hack3 Balance: 10.027883322402783989 Ether
- Cryptopia_Hack4 Balance: 0.25389196 Ether
- Cryptopia_Hack5 Balance: 0 Ether
- Cryptopia_Hack6 Balance: 0 Ether

Cryptopia_Hack2 before 3 days IN: 1,675.960122616657296 Ether from Cryptopia_Hack6.
I check Cryptopia_Hack6 IN and at the beginning have big transactions (19, 11, 8, 4, 3, 1, 1 Ether) and after around 20 transactions they have many more transactions but small amount (less than 1 Ether).And yes Ether is send from Cryptopia wallet, and that happened before 3 days.

Links:
- Cryptopia_Hack2 https://etherscan.io/address/0xaa923cd02364bb8a4c3d6f894178d2e12231655c
- Cryptopia wallet https://etherscan.io/address/0x5baeac0a0417a05733884852aa068b706967e790

[Timelord2067]

Police baffled as crypto-currency funds disappear

https://www.radionz.co.nz/national/programmes/morningreport/audio/2018680963/police-baffled-as-crypto-currency-funds-disappear

From Morning Report, 8:44 am today (Monday, 4th February 2019)

Funds are continue to be drained from the New Zealand digital currency exchange Cryptopia more than two weeks after police started investigating. Various cryptocurrencies believed to be worth more than $23 million have been siphoned from the trading exchange since it was first hacked on January 14. But even with scores of police investigators on the case, money is still disappearing, the latest being 260 thousand dollars worth last week. on Tuesday. Max Galker, who runs the cryptocurrency watchdog Elementus, has been monitoring the flow of virtual money from Cryptopia. He told RNZ reporter Matthew Theunissen most hackers aren't caught.

Listen to the radio report: https://podcast.radionz.co.nz/mnr/mnr-20190204-0844-police_baffled_as_crypto-currency_funds_disappear-128.mp3