Cryptopia Finally Discloses Estimate of Stolen Crypto

Cryptopia, one of the largest cryptocurrency exchanges in New Zealand, has finally revealed the losses it suffered from a hack that happened in January 2018. According to a series of updates on the exchange’s official Twitter account, the exchange lost less than 10 percent of its total holdings.

“We are continuing to work on assessing the impact incurred as a result of the hack in January. Currently, we have calculated that worst case 9.4% of our total holdings was stolen,” the company announced.

However, the exchange did not provide the exact amount of funds stolen and as it doesn’t publicly disclose its holdings, it might take some time before authorities get a clear picture of how much went missing.

Days after the attack, a blockchain data analytics company estimates that as $16 million in ether and other ERC-20 tokens could have been lost. Notably, hackers still had control over Cryptopia even after the police had been brought in and reportedly stole an additional 1,675 ether from 17,000 wallets – an amount worth about $181,000 at the time.

The two-week-long hack that hit Cryptopia on January 15 resulted in over $16 million being stolen from thousands of Ethereum wallets. Since then, the company has mostly remained silent on its social media channels, only coming out to Twitter to inform its users to refrain from depositing funds into their Cryptopia addresses.

On February 14, the company confirmed that the police had given them access back to its building and that the investigation is still ongoing.

Leave a Comment