Cryptopia exchange hacked - page 16.

meanwords

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Quote from: avikz on January 15, 2019, 06:43:15 AM

The list of hacked exchanges are just getting larger. That is the downfall of the strictly centralized exchanges. In 2018, hackers managed to syphon out around 731 million usd from exchanges and cryptopia is the first one in 2019. I am sure, this is not the end and the list will grow even larger in 2019.

Can decentralized exchanges be the solution to prevent such hacks? Since centralized exchanges keep their money into a centralized location, it's lucrative for the hackers. But in decentralized exchanges, handling of money is controlled by the users and not kept in a centralized location. What do you guys think? Should we pay more attention to decentralized exchanges going forward?

That's what I was thinking. I feel like most of the hack incidents that happened in 2018 are inside jobs. I think it was just a play to prevent any suspicion from the people so that they could steal money. I've been digging into some decentralized exchanges and I think it is time to transfer to them.

Supremacy1

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Activity: 331

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It is sad , I pity those fund that involved , that is why it is advisable not to keep coin u are not selling on exchange , better to get an offline wallet to avoid story that touched

Unblock_news

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https://www.unblock.news/news/cryptopia-hack-leads-to-significant-losses-1 more details here.

Ava Duvall

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Merit: 1

Quote from: adhirahman64 on January 17, 2019, 12:37:49 AM

whether the attack is large and can make the cryptopia close?

They are not quick to even call it a hack, but seeing that others ar even looking to file lawsuits against Cryptopia, the situation doesn't look that bright. Hopefully they will recover, since it's an ongoing investigation, only time will tell what will happen to Cryptopia.
https://cointelegraph.com/news/cryptopia-alleged-hack-police-are-on-the-case-while-community-tracks-down-stolen-funds

kramchers

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Merit: 101

I know about this news and this is sad because i have some tokens there.
I just bought half million pcs of LOYALCOIN which i am not yet withdraw to my wallet.
I hope they can give date when they will open again the exchange. BTW hacker sent the tokens to BINANCE account which is now on freeze./

Jating

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https://www.reddit.com/r/Cryptopia/comments/agkiwh/fundraiser_for_cryptopia_hack_victims/?ref=readnext

Just look at this. Fund raising? or just another attempt to steal?

On another note, it looks like the hacker has moved some of the funds in Binance but they quickly freeze the account.

https://cointelegraph.com/news/cryptopia-alleged-hack-police-are-on-the-case-while-community-tracks-down-stolen-funds

Quote

Some of funds have been frozen, Cryptopia users are preparing a lawsuit

It seems that at least some of the stolen tokens have been frozen. On Jan. 16, after being tagged by a Twitter community member, Binance exchange CEO Changpeng Zhao said that he suspended “some” of the funds affiliated with Cryptopia after they ended up on his platform’s wallets and claimed that he will freeze more if social media users report them.

figmentofmyass

legendary

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Quote from: pityunbent on January 17, 2019, 09:08:20 PM

How much was stolen from the hack?

there are no official numbers. cryptopia refuses to release that info, citing the police investigation. but circumstantial and blockchain evidence point to $10 million+ USD equivalent, most of which seems to have been ERC-20 tokens (dentacoin, metal, trueUSD, etc): https://finance.yahoo.com/news/cryptopia-alleged-hack-police-case-200800523.html

Ribbitforum

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Quote from: pityunbent on January 17, 2019, 09:08:20 PM

How much was stolen from the hack?

There is no exact amount yet how much was stolen, im also waiting for the update in cryptopia social page and newzealand police website hopefully cryptopia will open the withdrawal of unaffected coins

bitcoinsc

jr. member

Activity: 439

Merit: 1

I diversify my crypto exchanges as well. In case things like this happens. But I don't want it to ever happen. Only a year in crypto n I got hacked already.

Quote from: Yamifoud on January 17, 2019, 08:25:44 PM

Quote from: bitcoinsc on January 17, 2019, 06:42:25 PM

I want my bitcoins back. If the exchange goes live I'm withdrawing funds. It's in the hands of the athority now. So I'm not even sure if I'm getting my money. This is a nightmare I got 3/4 a Bitcoin in there. If btc dumps to 2500$ I'm gonna have a heart attack. That's a year of my savings.

Do you mean that all your money are in Cryptopia exchange.? I'll doubt if you can get it back, a lot of people were storing their money on there and could possible that the owner/team won't pay them and even given a share from.
Supposedly, you won't put all your money in just one exchange and I believe you are aware of that. It sad it have a less chances for your claims but you can just try.

pityunbent

newbie

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How much was stolen from the hack?

Sadlife

sr. member

Activity: 1400

Merit: 269

This is a perfect example to not put all the egg in one basket. In fact we never actually know how much funds does an exchange actually has for example in the "proof of keys" event do they really have all the money to pay their users if all of them withdraw their funds. And even popular exchange, there's also a risk that it can be vulnerable due to neglected or weak configurations or bug.

roughswap

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Activity: 153

Merit: 8

If for example Bitcoin did not get taken do you think the owners of the coins that dident get stolen would get them back,
i would think they would return the coins that remained if the owners of them wanted to withdraw them, there's a lot of talk of ether and Erc tokens being stolen,
also if they had certain account bitcoins in cold storage what do you think the result would be.

Yamifoud

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DGbet.fun - Crypto Sportsbook

Quote from: bitcoinsc on January 17, 2019, 06:42:25 PM

I want my bitcoins back. If the exchange goes live I'm withdrawing funds. It's in the hands of the athority now. So I'm not even sure if I'm getting my money. This is a nightmare I got 3/4 a Bitcoin in there. If btc dumps to 2500$ I'm gonna have a heart attack. That's a year of my savings.

Do you mean that all your money are in Cryptopia exchange.? I'll doubt if you can get it back, a lot of people were storing their money on there and could possible that the owner/team won't pay them and even given a share from.
Supposedly, you won't put all your money in just one exchange and I believe you are aware of that. It sad it have a less chances for your claims but you can just try.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: HippiePyro on January 17, 2019, 05:49:26 PM

Quote from: figmentofmyass on January 17, 2019, 05:39:38 PM

nope, not yet. if they go into bankruptcy, we've seen how that plays out with mt gox....

I thought mt. Gox had an escrow repaying some of the users?

the case is still being handled by the bankruptcy courts in japan. it's pending civil rehabilitation. so, gox collapsed in february 2014, and almost 5 years later people are still waiting to get back a fraction of the coins they lost! that's brutal.

Theb

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Quote from: aoluain on January 17, 2019, 03:52:16 PM

Quote from: Theb on January 17, 2019, 11:04:17 AM

~snip~

I would have thought Cryptopia was a sizable exchange and at this stage
why have they not sufficient security in place to protect other proples
funds? Its not good enough really.

Look its not always them to blame here. Just take a look at Japan and South Korea even though they have dozen of security requirements and compliance checks before they hand out their licenses to crypto exchanges some of them are still being hacked. Hackers are really going to extreme measures here just to steal your money, its always gonna happen not until they have some corporate bank level security going on in their exchanges expect that crypto exchanges to be hack regularly.

bitcoinsc

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Activity: 439

Merit: 1

I want my bitcoins back. If the exchange goes live I'm withdrawing funds. It's in the hands of the athority now. So I'm not even sure if I'm getting my money. This is a nightmare I got 3/4 a Bitcoin in there. If btc dumps to 2500$ I'm gonna have a heart attack. That's a year of my savings.

BurgerCash

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Activity: 187

Merit: 1

Quote from: HippiePyro on January 17, 2019, 06:19:25 PM

Well they do largely defeat the original purpose of cryptocurrency, which is to maintain control of your money. Dex will make it just as easy to aquire and sell without this issue.

Still no-one actually wants to use DEX-es as the UX is not as polished as it is on Binance or Coinex, for example. Although both Binance and Coinex have announced that they'll be building DEX-es so who knows what would happen the next few years...

HippiePyro

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A non technical guy in a technical world

Well they do largely defeat the original purpose of cryptocurrency, which is to maintain control of your money. Dex will make it just as easy to aquire and sell without this issue.

SCheek

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I noticed this a while back when my ANON wasn't getting withdrawn. Centralised exchanges present a big problem for investor confidence

cryptossi

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I know it's not a big exchange but it's not good for cryptocurrency, this and the 51% attack on ETC last week does not help improve the media and societies opinion on crypto which is already pretty low. I hope these hackers are happy with what they are doing, funds have been frozen by most exchanges that they have tried to transfer tokens to, but the sad thing is it creates more FUD and further reduces the market cap as it makes investors exit crypto entirely.

Topic: Cryptopia exchange hacked - page 16. (Read 4182 times)