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Days Before Security Breach Announcement
Reports first broke out on social media that Cryptopia was down around 2-3 days ago. Lots of worried customers, and observers were trying to make sense of the situation, and were concerned about the integrity of the site itself. Cryptopia made an announcement that the site was down for unknown reasons, and that also during the Ethereum hard fork they recommended to their customers to withdraw their ethereum.
Did #Cryptopia really just recommend customers withdraw their coins?https://t.co/r8gxDWtoCr— Nicholas Leduc (@nick_leduc) January 11, 2019
@Cryptopia_NZ please explain what’s going on with your site, all markets are paused. Communication is key guys!!#cryptopia— Mr Crypto (@cryptonitewhale) January 14, 2019
We are currently experiencing an unscheduled maintenance, we are working to resume services as soon as possible. We will keep you updated.— Cryptopia Exchange (@Cryptopia_NZ) January 14, 2019
Transfers From Cryptopia & Acknowledgement
After news that Cryptopia had suggested to all their users to withdraw ETH we have seen some movement, identified from @whale_alert on Twitter. Major transactions exceeding $1 million began occurring on January 13th. Cryptopia acknowledged a greater issue and stated that their systems were breached and that they suffered "significant losses". No further information was given to the public.19,391 #ETH (2,438,152 USD) transferred from #Cryptopia to Unknown wallet— Whale Alert (@whale_alert) January 13, 2019
Tx: https://t.co/xTxMKRJSD8
48,029,306 #CENNZ (1,176,596 USD) transferred from #Cryptopia to Unknown wallet— Whale Alert (@whale_alert) January 13, 2019
Tx: https://t.co/u3RiHh7riT
— Cryptopia Exchange (@Cryptopia_NZ) January 15, 2019
Cryptopia is in direct contact with government authorities regarding this security breach and is receiving assistance in how to proceed further with this matter. Cryptopia has been in full compliance with authorities thus far.
Follow us on Facebook to get the latest confirmed updates from our community! Our expectations are that we should receive an update from Cryptopia within 1 month regarding company funds.
Comments From Editor: During times like this serves a perfect example of maintaining a secure desktop wallet or paper wallet and having your coins backed up. Don't ever leave large amounts of cryptocurrency on major exchanges for very long. Many of our readers have been affected by these recent events, please consider diversifying your portfolios further and secure your coins to prevent future major losses! *this is not investment advice (legal requirement)*
