Topic: Cryptopia Cryptocurrency Platform Services and Development - page 95. (Read 174366 times)

Lets stop this unnecessary negativity on this thread, Crytopia already provided an update to the extent of loses from hacking incident.

Lets just wait and observe what will happen next week for their read-only opening.

If someone steals private keys and people keep depositing into the compromised address then that is not getting hacked again. Crypto balances are kept on the blockchain. Once someone has a private key all transfers happen on the blockchain not the wallet.

Claiming that it is "another hack" shows lack of understanding about how public and private keys work.

It is clear that Cryptopia management had access to servers and understand of what was taken on Jan13-15, police may have arrived and sealed the area off for a day or so, but likely had executives and key techs on-sight at "the scene" the whole time.

From the police statement in Jan, reads that "Cryptopia will reopen before Feb14"; meaning not get access to the building, but open the business for business.  Such a statement would suggest Cryptopia management had been assisting on-site, working with police, but police also working with Cryptopia management on a timely/safe re-opening.

That means a working plan to reopen BY Feb14.
That means securing funds that you have before Feb14.  Which would also give you a complete account audit.

Or at least publish what is lost ON Feb14 not March4.  Since that is what you filed with the police on Jan15.  Yet a month and a half later is still not on any public record.

Cryptopia acting like you all had not a single clue as to what is what and what do we have and not have UNTIL Feb15.

Is an insult.

Read your own tweets.  Read the police tweets.  Your important "guys" were in the loop and in the building long before Feb15.

Also ... you have had scammer Twitter accounts prey on your clients.  Because you can't manage to update the website and post OFFICIAL channels.

Also ... hacked for the 3rd time?  No comment?

....and if you had read the rest of the links in my post you would have realized why they were onsite to assist the police. http://www.legislation.govt.nz/act/public/2012/0024/latest/DLM4355803.html

"Cryptopia managers are onsite" -Feb 7

There's a misleading assumption here: that litigation means all assets are frozen an the company is closed. That's not true. Companies are involved in lawsuits all the time and they function just fine. So stop scaring people that they won't see anything if they do not accept a haircut solution. If they do apply a haircut and some aggravated customers decide to sue, the outcome will be decided in court, although it's pretty straight forward what the outcome would be: cover the losses.

You are not applying proper judgement to this situation. While it is true that bankrupting companies and stealing from creditors is an exit method, this method is more successful in countries with corrupt justice systems, where crooked businessmen bribe the judges to declare them not responsible. But as far as I remember New Zealand is a country that enforces rule of law and has a trustworthy justice system so suing a company does not automatically mean the company is bankrupt just because the owner wants so.

Stop pushing the haircut solution, If you really have money on cryptopia you should push them for 100% accountability on the loss funds.

Stop giving them an idea of haircut balance of all users.

Just a clarification:

I am not saying I want an haircut. The haircut is only better of bankrupcy, in case of cryptopia could not cover losses, in that case moving, for example, a lawsuit to try to squeeze the lacking 10% and resulting to a fund seizure (for all) for years. I am only over thinking or thinking to far future because I've seen all this already happen, not much time ago.

1) cryptopia covers losses <- best option, it HAS to cover if can

2) haircut <- NO if 1) is possible

3) lawsuit to try to obtain 100% <- stupidest option if 2) is possible.

They have only had access to their building and servers since the 14th of February - as indicated in their tweet. (A day before what the police announced in their news release) . Before that time they had little information. A lot of the information that was provided was drowned out by other comments.


https://www.police.govt.nz/news/release/police-continue-make-progress-cryptocurrency-investigation

A search and seizure warrant was executed on their premises and server under the Search and Surveillance Act 2012. This would have given the police wide ranging powers of investigation and as the police indicated Cryptopia technical staff fully co-operated and assisted with the forensic investigation. From a police viewpoint they would have ensured they had the maximum legal authority to conduct the investigation due to the value involved (Crimes over $1 million being a serious crime in NZ) and affecting a large number of people. This would have also given them search powers over any servers of third party providers and hosts.

Unofficial thread - announcements regarding the Cryptopia security breach. is a complete list of official announcements by the New Zealand police and Cryptopia on the situation.  It has not been silence but announcements were infrequent.

While their communication probably could have been better they really didn't have much they could talk about.  Now that they have access to their building and servers again . (I'm assuming they got access to all their servers again) they have the ability to assess, secure and re-open. Keep in mind that their administrative staff were on administrative leave and probably knew as much as members of the public.

They are seeing the implication of being silent all this time and now they decided to keep everyone in the loop on what they are doing.  Im assuming top coins are being secured first then hopefully they will allow withdrawals on those 24% secured wallet

Another update on Twitter: We have transitioned 24% of all wallets to our new secure servers.  Once the read only site is online, we will be keeping users up to date on which wallets have been checked and secured via the coin info page.
https://twitter.com/Cryptopia_NZ/status/1101275730372059136?s=17

New secure server LoL 😂

Offcourse I oppose the haircut .. im not paying for someone elses incompetence.

Yes but there is a Huge difference between Bifinex and Cryptopia also how they handled the aftermath so I dont see this was a valid comp.

Cryptopia afaik has never said anything about haircuts. There are many ways to move forward and be a win-win for everyone.

Who remembers Bitfinex hack? They paid back what they owed with the BFX token and with shares. This is crypto after all, it allows creative solutions that benefit everyone.

Mind conditioning, I will not accept any Haircut loss to cover any loss of other tokens. Crytopia should be the one to cover their losses.

The read only mode on monday is good development so far but still i am waiting for the day that i can finally withdraw my money and move on from this mess.

The company is liable 100% to the creditors, this includes people having coins on the exchange.

This haircut BS is being peddled by users. No one from the exchange has mentioned a haircut (yet). So it's baffling that people are asking for a haircut. Or are trolls sent to get us acquainted with the idea.

If you are not a troll, then it's plain stupid on your part to ask for a haircut. You, as users, should oppose any haircut.

You can see if your coin balance is positive

covered by what ? either they have insurance or they dont u cant get blood from a stone or are the shareholders liable ? im sure there is some small print that saves them from taking any personal losses.

I hope that this "everyone takes a 10% haircut" bullshit goes away thats not even possible for most coins on there that are pretty much illiquid dead with no real buy support so that would be a very uneven haircut.

This is also something that would have been nice to communicate if they have insurance to cover this  since they didn't ill assume they dont have it.

read only.... why read only? What is it useful for?

I'm glad to hear they'll be back.. Didn't leave any coins on there thankfully.