Cryptopia Discloses Damage Incurred from Hack
February 27 2019 - 12:29PM
InvestorsHub NewsWire
Bitcoin Global News (BGN)
February 27, 2019 -- ADVFN Crypto NewsWire -- When Cryptopia
was hacked in January, the attack made major waves due to the
exchange’s already, arguably shaky reputation. Until today,
however, little specific details were known on exactly what
occurred and exactly how much was taken.
Around midnight CET, Cryptopia
tweeted their first major update in weeks on the subject, which was
followed by two more over the next five hours. In these short
messages, the exchange clarified the percentage of their crypto
holdings that was stolen, in addition to one of the key measures
that they are taking to better secure the exchange in the
future.
With that in mind, it does appear
that they plan to re-launch the exchange, despite the ongoing
investigation into the specifics of the attack. Furthermore, those
who are interested in exactly how much crypto was stolen will
likely be disappointed.
According to the tweets in
question, Cryptopia lost 9.4% of their total holdings. While
CoinDesk cited one analytics firm as estimating the losses at about
$16 million, this is largely speculation at this point. Adding to
the continuing uncertainty surrounding these events is that still,
little is known on how Cryptopia is planning to improve their
platform.
Related to this, the only other new
information that has come to light at this time is that they are
“individually securing each user’s wallet,” before even seriously
considering re-launching their operations. What exactly this means
is anyone’s best guess. They could be doing something as
significant as adopting a new protocol or they could simply be
adding small tweaks to whatever their existing security measures
are.
Since the New Zealand police have
not concluded their investigation, it would likely be in any
investor’s best interest to avoid even considering any future
dealings with Cryptopia. Because not all of the facts are known,
any explanation for how and why the attack occurred is still quite
possible.
By: BGN Editorial Staff
Bitcoin (COIN:BTCGBP)
Historical Stock Chart
From May 2024 to Jun 2024
Bitcoin (COIN:BTCGBP)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Bitcoin (Cryptocurrency): 0 recent articles
More Bitcoin News Articles