Cryptopia exchange hacked - page 3. | Bitcointalksearch.org

erikalui

legendary

Activity: 2632

Merit: 1094

Quote from: ||bit on May 15, 2019, 02:08:48 PM

I don't think they did trade with customer funds and lost because bitcoin pumped more than anticipated, at least i hope so.

They did let people withdraw %85 of their btc balance after the hack and even they are liquidating the exchange, they should let people withdraw whatever they can. I am one of the lucky users has only lost around 200$. It is not a very small amount but compared to what can happen, i can accept this loss.

I lost around $270 but this will be my 4th loss as I have been scammed thrice earlier. I luckily withdrew 0.03 BTC from the exchange but now all my altcoins are gone including COR which I had to swap.

||bit

hero member

Activity: 924

Merit: 506

I don't think they did trade with customer funds and lost because bitcoin pumped more than anticipated, at least i hope so.

They did let people withdraw %85 of their btc balance after the hack and even they are liquidating the exchange, they should let people withdraw whatever they can. I am one of the lucky users has only lost around 200$. It is not a very small amount but compared to what can happen, i can accept this loss.

Lomingo

member

Activity: 84

Merit: 10

Does the new message on Cryptopia.co.nz and Twitter mean, that all my funds on Cryptopia are lost?

pinoycash

hero member

Activity: 1316

Merit: 514

Quote from: RivAngE on May 15, 2019, 09:18:02 AM

Do you think this is somehow related to Bitcoin's price surge?
And what is a "liquidation" supposed to mean? Why would it take months? (quote: "Given the complexities involved we expect the investigation to take months rather than weeks.")

Though, if a matter like securing new wallets and resuming trading which is a work of a few days took them over a month, then I suppose this procedure will take years.
Bye bye 0.000001 BTC dust of mine! Cry

It could be, they probably sold all customers coins when BTC was at 4.5k to 5k price in the anticipation of another big dump in the crypto market. but it goes sideways. BTC went up to 8K USD and now they owe more money to their customers. There's no other solutions but to file for bankruptcy.

This process will really takes months if not years of patience. Its bets to forget our money and charge it to experience.

RivAngE

full member

Activity: 728

Merit: 169

What doesn't kill you, makes you stronger

Do you think this is somehow related to Bitcoin's price surge?
And what is a "liquidation" supposed to mean? Why would it take months? (quote: "Given the complexities involved we expect the investigation to take months rather than weeks.")

Though, if a matter like securing new wallets and resuming trading which is a work of a few days took them over a month, then I suppose this procedure will take years.
Bye bye 0.000001 BTC dust of mine! Cry

pinoycash

hero member

Activity: 1316

Merit: 514

We have been played by cryptopia Founders, operators, Discord admins and mods.

They keep saying everything is ok and people are still funding their balance via BTC in order to collect those cheap alt coins that is open for trading. And this liquidation news happens.

What in the world they allow deposit via BTC if they are just planning to close permanently. This is just a plain scam and founders should go to jail and spend their eternity paying for their crimes.

condoras

legendary

Activity: 3038

Merit: 1104

This is what I do. I drink and I know things.

Quote from: Netnox on May 15, 2019, 04:57:26 AM

OK... so it is confirmed. Those users, who had their funds remaining in Cryptopia are now royally screwed. I can't believe how lucky I am. Just a few hours before they closed down, I had transferred my BTC from the Cryptopia wallet to one of my personal wallets. I still have some CLM tokens remaining there, but the amount is not that big.

Now I guess what happened with Mt Gox will repeat with Cryptopia as well. The Mt Gox users are yet to receive any reimbursements, despite the process going on for more than 5 years now. Anyway, all the best guys!!!

Firstly it was not a choise for any user to keep his alts there. If you can't withdraw then your coins are bounded.
You were indeed more than lucky because you didn't have any alts of value, besides CLM which was a total fail.

MtGox is a total (?) different case but can have the same result. The users to get a big 0 and loose their funds, no matter what coin/ token they have. Sad

bitcoin9999

full member

Activity: 504

Merit: 109

Quote from: Netnox on May 15, 2019, 04:57:26 AM

Quote from: joniboini on May 14, 2019, 11:26:39 PM

Quote from: Netnox on May 14, 2019, 10:25:25 PM

https://twitter.com/Cryptopia_NZ/status/1128491715608727553

I don't understand much. Are they going to liquidate the exchange?

Yes. They went insolvent and now looking for help.

Another Mt.Gox story. Exchanges should learn from this case so that no more traders/users got fucked up by their mistakes.

OK... so it is confirmed. Those users, who had their funds remaining in Cryptopia are now royally screwed. I can't believe how lucky I am. Just a few hours before they closed down, I had transferred my BTC from the Cryptopia wallet to one of my personal wallets. I still have some CLM tokens remaining there, but the amount is not that big.

Now I guess what happened with Mt Gox will repeat with Cryptopia as well. The Mt Gox users are yet to receive any reimbursements, despite the process going on for more than 5 years now. Anyway, all the best guys!!!

You are very lucky. I suspected something was not right because they locked up many of the altcoins for so long.

Netnox

legendary

Activity: 2044

Merit: 1008

Quote from: joniboini on May 14, 2019, 11:26:39 PM

Quote from: Netnox on May 14, 2019, 10:25:25 PM

https://twitter.com/Cryptopia_NZ/status/1128491715608727553

I don't understand much. Are they going to liquidate the exchange?

Yes. They went insolvent and now looking for help.

Another Mt.Gox story. Exchanges should learn from this case so that no more traders/users got fucked up by their mistakes.

OK... so it is confirmed. Those users, who had their funds remaining in Cryptopia are now royally screwed. I can't believe how lucky I am. Just a few hours before they closed down, I had transferred my BTC from the Cryptopia wallet to one of my personal wallets. I still have some CLM tokens remaining there, but the amount is not that big.

Now I guess what happened with Mt Gox will repeat with Cryptopia as well. The Mt Gox users are yet to receive any reimbursements, despite the process going on for more than 5 years now. Anyway, all the best guys!!!

joniboini

legendary

Activity: 2170

Merit: 1789

Quote from: Netnox on May 14, 2019, 10:25:25 PM

https://twitter.com/Cryptopia_NZ/status/1128491715608727553

I don't understand much. Are they going to liquidate the exchange?

Yes. They went insolvent and now looking for help.

Another Mt.Gox story. Exchanges should learn from this case so that no more traders/users got fucked up by their mistakes.

Netnox

legendary

Activity: 2044

Merit: 1008

Quote from: dunfida on May 14, 2019, 12:14:06 PM

Quote from: Netnox on May 14, 2019, 11:45:39 AM

Today I withdrew all my remaining BTC in Cryptopia (around BTC0.08). I wanted to withdraw some of my alts, but it was not possible since the hot wallets were not ready. I was waiting for more than a month now, so lost my patience and converted all my alts to BTC. Now I have just the CLM (Cryptopia Loss Marker) tokens remaining in that exchange.

Lucky for you but for me same as others my altcoin is still locked and cant be traded.

They started creating the new hot wallets almost 3 months back. And until April, they were giving regular updates. But all of that has stopped now. On April 4, the announced in Twitter that they are 50% through the hot wallet creation process. At this rate, they could have completed this process by the first week of May. But as I mentioned earlier, there have been no updates and so I don't know what's going on. And just a few minutes back, they published this strange tweet:

https://twitter.com/Cryptopia_NZ/status/1128491715608727553

I don't understand much. Are they going to liquidate the exchange?

pinoycash

hero member

Activity: 1316

Merit: 514

Quote from: Zer0Sum on May 13, 2019, 03:17:51 PM

Quote from: RivAngE on May 02, 2019, 03:26:17 AM

Quote from: mr.relax on May 02, 2019, 12:09:01 AM

They had their chance of regaining trust.
But after 3 months they dont got their exchange running.
You cannot rise from the ashes if you dont try to stand up.

B-but-but... the police... they blocked our entrance... a-and then the weather... such a bad weather, first of all is the employee's safety!
A-A-and th-the coffee machine broke, our employees can't work more than 1 hour per day without coffee.
Al-also, two of our hamsters powering the servers died, so we can't sync more than 1 wallet at a time.

They are calculating that trust is gone so pseudo Exit Strategy:

(1) Freeze all Customer shitcoin transfers.

(2) Force Customers to dump shitcoins for $0.80 on the dollar... Cryptopia instantly arbs your shitcoin for $0.20 in BTC.

(3) With BTC mooning and alts tanking this is BIG WINDFALL for Cryptopia...
They could be making as much as $20-30,000/day by freezing Customer shitcoins indefinitely.

(4) In any civilized country with a Court System (like NZ) this is fraud and criminal...
But when you are totally fucked anyway... hey, you do what you have to do Cheesy

What's your take about USDT?

#3 is a real deal, they are the one buying this coins/tokens below market price to get some profit for themselves. Allowing BTC withdrawal is just a smoke screen to hide their real intention and to buy sometime to prevent people from filling cases against them.

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: Zer0Sum on May 13, 2019, 03:17:51 PM

Quote from: RivAngE on May 02, 2019, 03:26:17 AM

Quote from: mr.relax on May 02, 2019, 12:09:01 AM

They had their chance of regaining trust.
But after 3 months they dont got their exchange running.
You cannot rise from the ashes if you dont try to stand up.

B-but-but... the police... they blocked our entrance... a-and then the weather... such a bad weather, first of all is the employee's safety!
A-A-and th-the coffee machine broke, our employees can't work more than 1 hour per day without coffee.
Al-also, two of our hamsters powering the servers died, so we can't sync more than 1 wallet at a time.

They are calculating that trust is gone so pseudo Exit Strategy:

(1) Freeze all Customer shitcoin transfers.

(2) Force Customers to dump shitcoins for $0.80 on the dollar... Cryptopia instantly arbs your shitcoin for $0.20 in BTC.

(3) With BTC mooning and alts tanking this is BIG WINDFALL for Cryptopia...
They could be making as much as $20-30,000/day by freezing Customer shitcoins indefinitely.

(4) In any civilized country with a Court System (like NZ) this is fraud and criminal...
But when you are totally fucked anyway... hey, you do what you have to do Cheesy

What a nice analysis of that pseudo Exit strategy which is really plausible but we cant still accuse yet but presuming on the things do happening
then theres no doubt that this one is really valid. Grin

Quote from: Netnox on May 14, 2019, 11:45:39 AM

Today I withdrew all my remaining BTC in Cryptopia (around BTC0.08). I wanted to withdraw some of my alts, but it was not possible since the hot wallets were not ready. I was waiting for more than a month now, so lost my patience and converted all my alts to BTC. Now I have just the CLM (Cryptopia Loss Marker) tokens remaining in that exchange.

Lucky for you but for me same as others my altcoin is still locked and cant be traded.

Netnox

legendary

Activity: 2044

Merit: 1008

Today I withdrew all my remaining BTC in Cryptopia (around BTC0.08). I wanted to withdraw some of my alts, but it was not possible since the hot wallets were not ready. I was waiting for more than a month now, so lost my patience and converted all my alts to BTC. Now I have just the CLM (Cryptopia Loss Marker) tokens remaining in that exchange.

Zer0Sum

legendary

Activity: 1588

Merit: 1000

Quote from: RivAngE on May 02, 2019, 03:26:17 AM

Quote from: mr.relax on May 02, 2019, 12:09:01 AM

They had their chance of regaining trust.
But after 3 months they dont got their exchange running.
You cannot rise from the ashes if you dont try to stand up.

B-but-but... the police... they blocked our entrance... a-and then the weather... such a bad weather, first of all is the employee's safety!
A-A-and th-the coffee machine broke, our employees can't work more than 1 hour per day without coffee.
Al-also, two of our hamsters powering the servers died, so we can't sync more than 1 wallet at a time.

They are calculating that trust is gone so pseudo Exit Strategy:

(1) Freeze all Customer shitcoin transfers.

(2) Force Customers to dump shitcoins for $0.80 on the dollar... Cryptopia instantly arbs your shitcoin for $0.20 in BTC.

(3) With BTC mooning and alts tanking this is BIG WINDFALL for Cryptopia...
They could be making as much as $20-30,000/day by freezing Customer shitcoins indefinitely.

(4) In any civilized country with a Court System (like NZ) this is fraud and criminal...
But when you are totally fucked anyway... hey, you do what you have to do Cheesy

condoras

legendary

Activity: 3038

Merit: 1104

This is what I do. I drink and I know things.

Quote from: Netnox on May 12, 2019, 01:59:12 AM

If they are scammers, then why should they enable the withdrawals? Already most of the users have withdrawn their coins from the exchange. And regarding the altcoins, I was able to convert most of my altcoins to BTC, and then to withdraw them. Can you tell me which alt is having the market disabled? IMO, we need to give them more time. They are still in a recovery phase and we need to be patient.

There is though a general question. How much time they need in order to have wallets for all the coins? Their excuse is that they need the devs of those alts... Roll Eyes

Btw a lot of coins are not available, even if the market is open to trade them. That's even more strange, don't you think?

mr.relax

hero member

Activity: 1651

Merit: 863

Given Ex. is Loki, but also other coins cannot been traded now and not withdrawn

Netnox

legendary

Activity: 2044

Merit: 1008

Quote from: mr.relax on May 07, 2019, 08:09:08 AM

At least you can exchange and withdraw. My Altcoins show market-disabled, so i cannot withdraw or exchange to a withdrawable currency.
Cryptopia are SCAMMERS

If they are scammers, then why should they enable the withdrawals? Already most of the users have withdrawn their coins from the exchange. And regarding the altcoins, I was able to convert most of my altcoins to BTC, and then to withdraw them. Can you tell me which alt is having the market disabled? IMO, we need to give them more time. They are still in a recovery phase and we need to be patient.

mr.relax

hero member

Activity: 1651

Merit: 863

At least you can exchange and withdraw. My Altcoins show market-disabled, so i cannot withdraw or exchange to a withdrawable currency.
Cryptopia are SCAMMERS

pinoycash

hero member

Activity: 1316

Merit: 514

Quote from: condoras on May 06, 2019, 03:05:21 PM

Quote from: pinoycash on May 05, 2019, 07:42:48 AM

Quote from: TheHas on May 04, 2019, 08:11:18 PM

Cryptopia needs to give it up. This random new zealand exchange was fine back when altcoin exchanges were almost non-existent, but now there is so much competition they need to do better or exit the business.

Take your business elsewhere to a decentralized exchange or somewhere that has rock solid security.

Until they refund everyone with their hard earn money and all CLM Coins properly compensated they cannot give up and abandon their exchange. They should returned everything to all their users upto the single satoshi on each and every account.

I really dought that they will return everything back to us. Besides if they want to do just that, why they make a haircut and issue a new token?

They should be returning everyone coins by now except those that been affected by hack, But until now they choose to ignore their customer plead in opening withdrawals of other coins,.

Basically they are forcing their users to sell their coins at loss in the BTC market so they can withdraw their money out of cryptopia.

Imagine on Cryptopia people are selling their ETN at 69 sats while the real market price of each ETN is 90 sats in other exchanges,. Its a hard pill to swallow that people have no choice but to sell their ETN at loss for BTC, So they can withdraw their money out of their system.

Topic: Cryptopia exchange hacked - page 3. (Read 4122 times)