End Of The Road To Cryptopia? After Loosing $16M To Hackers.

[Netnox]

I guess some people think that Cryptopia hacked themselves in order to justify the proposed closure now, people lost their money without no hope of refunding anything.

I really doubt that. The stolen coins (especially ETH and the tokens) are being tracked now and the hacker won't be able to cash them out any time soon. At the same time, the investigation is ongoing and the details of every transaction ever made on Cryptopia is being analyzed. If the Cryptopia admins wanted to close down their exchange, then this was not the most intelligent option for them. The evidence also points otherwise. It looks as if the hack was done by organized criminal groups from Eastern Europe (Cryptopia is based in New Zealand).

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[nreal]

I still have some altcoin on it. How will they handle the rest of the users' assets? Does anyone know I hope to receive it soon.

[nur rochid]

I guess some people think that Cryptopia hacked themselves in order to justify the proposed closure now, people lost their money without no hope of refunding anything.

very unfortunate if that is the right thing to do. they make dramas to bring money from their customers. and of course this will not be done by professional exchange who maintain the trust of its members

[asbak66]

Yes it's dead already cause cryptopia don't have any plans or ways to recover the lost from hack.
It's quite sad for me cause cryptopia is one of the first exchange I used when I'm into crypto, it's very simple and I love the UI too.
Sad to know they gonna gone forever.

[mrdeposit]

It is not so easy to stay as you are. That is why we are all going through bigger exchanges, at least they will pay back our money. This time cryptopia had the bad luck, it should be a lesson for others.

[michellee]

I guess some people think that Cryptopia hacked themselves in order to justify the proposed closure now, people lost their money without no hope of refunding anything.

very unfortunate if that is the right thing to do. they make dramas to bring money from their customers. and of course this will not be done by professional exchange who maintain the trust of its members

Everything can happen on the internet. If they are really doing that, I think people won't forgive them, and the law should chase them until they can get arrested. I hope that soon, there is good news from them to the members so the member at least can get a refund of their money and that is a form of their responsibilities to their member.

[rachman mahesa]

No one can avoid problems like this. Nor is it a large or small exchange, all will happen if there is a gap to do it. Other exchanges must learn from cryptopia or Binance who have just experienced this. With that other exchanges will learn to add a security system so that there are no gaps for hackers to do this.

[ali115112]

This is bad end for those who have balance in Cryptopia and not able to withdraw and also i was lost my 5600 TRON.

[Bitfling]

No one can avoid problems like this. Nor is it a large or small exchange, all will happen if there is a gap to do it. Other exchanges must learn from cryptopia or Binance who have just experienced this. With that other exchanges will learn to add a security system so that there are no gaps for hackers to do this.

The most safe we can do is not store our coin or token in exchanger wallet. Its very vulnerable because hackers always want our coin. Better keep storing our coin or token in our own wallet. Many exchanger had this experience and hopely cryptopia can handle this with more transparancy

[Defimwh]

I feel sorry for them , $16m is really a lot of money. thats why i never put a lot of money in exchange wallet because i think that exchange doesn't always secure because i think even if they have the best white hat for security. black hat always win because of their group is just to big to handle.

[Little Mouse]

yes, that is the end of cryptopia. i really enjoyed using this exchange, but by the sudden closing down i lost about 0.001 btc. that is not a lot of money, but annoying anyway. to come back after the hack, and then close again after a few days is stupid. now, more people have lost money and it will take time to make good on their claims. 

What did you like so much about Cryptopia? Cryptopia was the perfect home for shitcoins. What ICO started doing was after raising some 1000-2000 ETH, they used to pay 50-70 ETH listing fees on Cryptopia, make investors happy and then ran away with rest of the money. Due to this common practice, Cryptopia had the largest volume of shitcoins after HitBTC. Both these exchanges care more for money than development. There were regular pumps/dumps on Cryptopia.
That's why I used to hate Cryptopia and never used it after 2017.

Not really true. I too liked cryptopia because of their simple theme, easy to use, faster transaction and quite better support. I had once an issue with them and had contacted them, they sorted out the problem within hours and very responsive too.

[Teawhalee]

It’s so  unfortunate that this cool exchange could suffer attack from hacking and hasn’t recovered from this attack. Now exchange needs to tights their security very well to avoid this kind of things. It’s good to know that tokens are best kept in your wallet and not it even exchange website to avoid sad stories when this kind of hacking happens.

[Febo]

If you ask me to close down an exchange because of a $16  millions loss is a bit stupid.  If they are early investors $16m is little for them. I guess they just dont want to bother with exchanges anymore. They should just sell it on time just like Bitstamp and Poloniex did.

[SaRmY]

Of course the news is very sad. But what is 16 million. Banks are also breaking open. From counts, too, they make money. Some banks even manage to go broke. So I do not think that there will be a problem with the currency exchange because of this. Perhaps a little slow down the growth of all coins. But not for long.

[justspare]

yes, that is the end of cryptopia. i really enjoyed using this exchange, but by the sudden closing down i lost about 0.001 btc. that is not a lot of money, but annoying anyway. to come back after the hack, and then close again after a few days is stupid. now, more people have lost money and it will take time to make good on their claims. 

Can relate on how you feel bud  . Cryptopia is the first exchange i used to trade my tokens when i engaged myself into crypto and i used to think that this exchange is good but then i am wrong. Lost my ether and some tokens there though not that big but still it is frustrating to lose our own money. Hope they will have some good news on how to refund their customers who lost money on their exchange.

I don’t think you should expect any refund from them again, because they have no SAFU fund to control the damages that was done to them. Which is why they are liquidating easily? This will also serve as lesson to those that are fund of keeping their token on an exchange; no exchange is safe for now.

Imagine the almighty Binance that we all feel it will be impossible for them to have security breach also fell a victim of one of the highest hacking of the year. I just hope that this cryptopia news will not scare people of Binance for them to start dumping some of their coins on Binance that may affect the price of BNB.

[altscaner]

It is very convenient because I think exchange cryptopia was good enough in its time because they offered listing of coins using various platforms and algo and now it ended tragically.

[airdropan]

cryptopia is one of some quiet populer exchange market that listing altcoin there.
so sad i can't withdraw my last ballance there , although it just 0,2 eth

[FanEagle]

I learnt that they have officially announced their liquidation, that is so sad of them, I guess what the hackers stole if far more than what they even declared for them to go down easily that way, because if they were that very big as they claim, why has Binance not dissolved too when what they stole form them is not even up to the half of what was stole from Binance.

I really winder what will happen to the funds of people after liquidating, will they refund other people’s money or what, because I have never really been in this situation and I really don’t know how they intend they go about this.

[ivan1975]

It's very bad, that Cryptopia has gone.
But there is one good news for coins that traded only on Cryptopia and nowhere else.
Nova Exchange opens doors for coins that was listed on Cryptopia:
ttps://novaexchange.com/news/

2019-05-15 18:04 - If listed with Cryptopia, list for free with Nova Exchange

[Peruvyn]

This is a painful end for such a good trading platform. The asset that was hacked from the exchange is too much and they don't have thr financial capacity like the likes of Binance to endure it. I think one thing that make centralized cryptocurrency exchanges super risky is that most of them are not insured and to me this is very bad.