Cryptopia Update — Hacked Exchange Cleared To Resume Operations

cryptopia reopen

Barely one month after New Zealand based cryptocurrency exchange, Cryptopia was hacked, local reports confirm that the NZ Police authority has told the firm to “open again whenever they like.”

However, it seems that the crypto exchange is not in a hurry to get things going again with their website still showing a maintenance message at the time of writing this report.

As a follow-up on an earlier update, Detective Greg Murton told New Zealand Herald that the police have almost completed investigations at Cryptopia’s head office in Christchurch and future actions would not impede on their resumption of operation.

Until now, though, neither the Police or Cryptopia have provided insight into the exact amount of money that was lost by the exchange as a result of the Jan 14 hack. However, earlier investigations by members of the crypto community estimate the stolen funds to be about $16 million.

The New Zealand Police had said on Feb 7, that it was making excellent progress in its investigations and also collaborating with international agencies to monitor the movement of the stolen cryptocurrencies.

It is likely that the Police is hedging on its earlier comment that it will take “considerable amount of time to resolve due to the complexity of the cyber environment,” and as such allowed Cryptopia to resume operations.

The crypto exchange will on its part, want to beef up its security and make some improvements before going live once more.

Your crypto deserves the best security. Get a Ledger hardware wallet for just $79!

Market Analysis
Liked Reading? Share with Friends