New Zealand Police Allows Cryptopia To Resume Its Operations

by | Feb 16, 2019 | Cryptocurrency, Cryptocurrency News

New Zealand | Cryptopia | Hacker

Cryptoia, a New Zealand-based cryptocurrency exchange finally received access to its building, after it came under a hack attack. New Zealand police has given the exchange permission to continue its operations. The founders’ exchange is currently remaining silent on these matters.

As of Wednesday, the New Zealand police was investigating the hack stated that their investigation does not restrict the cryptocurrency exchange Cryptopia from resuming their business again. The said hack lead to an estimated $23 million loss and a subsequent closed down during January.  Though the exchange is currently being silent on the matter, a tweet announced the release.

Detective Inspector Greg Murton spoke to a local news outlet stating that,

“Cryptopia management have full access to their facility and business premises and the police investigation is not preventing their business from getting up and running again. However only Cryptopia management can speak to when it may be open again.”

Murton further added that the investigation continues and both New Zealand and the United States police collaborate with the FBI and other international experts.

“No timeframes as to a conclusion to the investigation can be provided at this time.” 

Kelvin Chandran, CEO for a blockchain-based identity and risk scoring platform, SingleSource stated to a news outlet that the main challenge for these criminals is to be capable of liquidating the cryptocurrencies without being found out.

We track the funds because we want to make our clients aware of which wallets are tainted, to comply with anti-money laundering regulations.”

Just after two weeks after the massive hack, Cryptopia lost another 17,000 Cryptopia wallets and lost over 1,675 ETH worth, as per the information provided by the blockchain analysis protocol and platform Elementus. It was concluded that “Consistent with our earlier hypothesis, Cryptopia no longer has the private keys to their Ethereum wallets and the hacker does.”

Read more: TradingView Introduces A Customized Crypto Dashboard To Aid Traders

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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