New Zealand Based Cryptocurrency Exchange Cryptopia Faces A Hack

by | Jan 16, 2019 | Cryptocurrency, Cryptocurrency News

New Zealand | Cyptocurrency Exchange | Cryptopia | Hacked

Cryptopia, a New Zealand based cryptocurrency exchange suffered an attack on 14th of January. Interestingly, the platform did not come out with the information at first and diverted the users saying that unscheduled maintenance is under process to resolve some technical difficulties.

It after a few tweets that the exchange came clean about being attacked. While not much information about the hack has been divulged, except that concerned authorities have been informed and that all trading and movement of funds in and out of the exchange have been suspended.

The Cover 

The exchange reported on Twitter early on 13th January, that they are experiencing technical difficulties with their accounts and thus going under unscheduled maintenance to sort out the issue.

Following the initial tweet, Cryptopia tweeted two more times that maintenance is continued on, with a promise that they keep the users updated about the progress.

A similar message was also displayed on the Cryptopia website, informing the visitors about the ongoing unscheduled maintenance:

Maintenance

Cryptopia is currently in unscheduled maintenance mode. We will be back soon.

We apologize for any inconvenience this may cause, we are working to resume services as quickly as possible.

It was a Security Breach

After a while, the exchange issued one more tweet that stated that they have suffered a security breach that resulted in significant losses. The tweet also went on to inform the users that they have notified all relevant Government Law Agencies in New Zealand.

Such attacks in the past have negatively affected the price movement. While the news about the Cryptonia hack is still being absorbed by the crypto markets, the market hasn’t shown any sign of a breakout as of yet.

Read more: Cryptocurrency Wallet Electrum Hacked, Over $900K Stolen In A Phishing Attack

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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