[2019-3-2]Cryptopia Crypto Exchange Lost 9.4% of its Holdings to Hackers

Naida_BR

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Quote from: enhu on March 02, 2019, 12:45:37 PM

They should mention which coins and tokens are lost from the users, I still have my ADA and NEM on the orders before they close the exchange, so I wouldn't assume they are all gone too if they just declare which cryptocurrencies are affected. I'd be looking forward to seeing my funds when they get back online.

I read somewhere that the coins that hackers managed to stole were Ether and ERC20 tokens. So, I think that the tokens that are built on the Ethereum platform had that problem.
I think you are safe with your ADA and NEM coins. They should be untouched into your wallet.

enhu

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Quote from: btyco on March 05, 2019, 12:08:27 PM

The loss of around ten percent is minor compared with the damage that has been done to their reputation. Investors are going to flee with their funds to other exchanges. Topia won't survive for long

Or it could be the other way around. Since it already happened to them, they must know now how the culprits got in so they are now aware and are more careful for their security. I'd prefer to stay with them still if they manage to have my balance to be as is.

They can still regain reputation so long as they can still operate and have a volume. It all needs just marketing.

btyco

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The loss of around ten percent is minor compared with the damage that has been done to their reputation. Investors are going to flee with their funds to other exchanges. Topia won't survive for long

1Referee

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Quote from: Vialaia on March 02, 2019, 04:08:00 PM

It's like a gambling game. You log in the account hoping that you are the lucky one whom this trouble has not affected. It depends on whether the luck changes.

You will be affected for sure even if the coins that are stolen aren't the coins you have in your account balance, because an exchange generally tends to socialize the losses.

In the end, this gambling you're referring to is what people do to themselves. No one is forcing you to leave your coin in your account just so you can sell quickly whenever the market sentiment shifts. That laziness is what makes people lose big time.

Just think about it, what do you rather lose, paper value, or actual coins? Loss in paper value can be compensated with time by recovering prices, but loss of actual coins doesn't compensate itself. You can only hope that the exchange will be profitable enough to compensate you at whatever point in time according to their own terms, which always favors the house and not you.

akamit

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Quote from: enhu on March 02, 2019, 12:45:37 PM

They should mention which coins and tokens are lost from the users, I still have my ADA and NEM on the orders before they close the exchange, so I wouldn't assume they are all gone too if they just declare which cryptocurrencies are affected. I'd be looking forward to seeing my funds when they get back online.

I don't think cryptopia will shut down the exchange with just 9.4% of its holdings lost, though I don't know any news related to this if they have announced anything.

I also lost my ZAP tokens there and I hope I will get back my token when cryptopia is alive again.

o_e_l_e_o

legendary

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This new is several days old, as reported in this tweet: https://twitter.com/Cryptopia_NZ/status/1100565721799479296

The more interesting news is that they plan to re-open in "read only" mode on Monday. Presumably that means no deposits, trading, or withdrawals, but only allowing users to see their balances. No update yet when they would be aiming to move out of "read only" mode.

There is also no update as far as I am aware (correct me if I'm wrong) as to if and how much they will be compensating affected users, which is the only thing that most people care about.

Vialaia

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It's like a gambling game. You log in the account hoping that you are the lucky one whom this trouble has not affected. It depends on whether the luck changes.

bitcoinisbest

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Quote from: carlfebz2 on March 02, 2019, 12:37:31 PM

You are already late Coinidol on such news. We have already known this news before you do post this one.Just asking why you are always late? Huh

@topic 9.4 hacked amounts isn't really that big which cryptopia would able to compensate into that hacked funds to save up their reputation.

Such things have a major impact to the people and their decisions as they get very vulnerable that if they invest or trade and lose their money on such instances where the exchange gets scammed they lose out their hard earned money. Thus due to this risk factors some of them stay away from crypto .

enhu

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They should mention which coins and tokens are lost from the users, I still have my ADA and NEM on the orders before they close the exchange, so I wouldn't assume they are all gone too if they just declare which cryptocurrencies are affected. I'd be looking forward to seeing my funds when they get back online.

carlfebz2

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CoinPoker.com

You are already late Coinidol on such news. We have already known this news before you do post this one.Just asking why you are always late? Huh

@topic 9.4 hacked amounts isn't really that big which cryptopia would able to compensate into that hacked funds to save up their reputation.

Vladdirescu87

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New Zealand (NZ)-based crypto exchange giant Cryptopia has issued an update concerning how much funds were lost during the hack of January 2019. According to the latest update, the company sat down and calculated all its holdings in a worst-case scenario and discovered 9.4% of their total crypto assets were lost to malevolent hackers.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/cryptopia-lost-holdings/

Topic: [2019-3-2]Cryptopia Crypto Exchange Lost 9.4% of its Holdings to Hackers (Read 174 times)