no the market wont crash due to hacks. only the bad news can affect the price for short term.
the bitcoins which were stolen are still in the blockchain pool, they are not gone, also they are tracable which makes the anonym cashout at such large sums very hard. they cant spam the bitcoins in exchanges in large amounts to affect the prices.
also such amounts of stolen bitcoins to cashout its common to do it by cash in person, so its no big buy or sell order which get logged on the exchange sites to dump or pump the prices as the trade is under the radar.
so no the only reason the prices gets dumped while the bad news of hacked exchanges are displayed, is only the fear of the ppl
Topic: Cryptopia Hacked. Will BTC Crash? - page 5. (Read 20091 times)
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I don't think the crypto market will crash for this fake, scam exchange! I stopped even visiting cryptopia since November 2017! My first experience was horrible in cryptopia exchange and I never wanted to trade there! And this is the main exchange to manipulate the price and every signal group used this exchange to make people fool and at the end, they are claiming it is hacked! Oh, I don't believe it, and I think the owner of cryptopia is involved in this hacking.
I agree, it can not influence the hacking of a small exchange on the price of bitcoins.
I would like to understand if they have stolen private keys directly or have stolen funds indirectly by acting on the exchange database
I would like to understand if they have stolen private keys directly or have stolen funds indirectly by acting on the exchange database
Cryptopia Hacked. Will BTC Crash?
I think they eat people money and than they say their Exchange hacked.
I think they eat people money and than they say their Exchange hacked.
They're too small to have a drastic effect on prices. If a major exchange like Binance or Bitfinex had a big hack, it would be a different story. I remember the day Bitfinex got hacked in 2016 -- the price fell 20-30% within a day. By comparison, today's price just had a normal 3% fluctuation.
Ya it is true but that time their were not much exchanges to trade only few so any hack will create panic in market, but today their are so many exchanges and cryptopia is on last rank and already that exchanges have so many scam accusations so i dont think their will be any affect. in the market.
the destruction or failure of Bitcoin depends on how many assets of Bitcoin are successful in hacking, and depends on how bad the influence of hacking is on buying interest of traders and investors.
Cryptopia Hacked. Will BTC Crash?
I think they eat people money and than they say their Exchange hacked.
I think they eat people money and than they say their Exchange hacked.
They're too small to have a drastic effect on prices. If a major exchange like Binance or Bitfinex had a big hack, it would be a different story. I remember the day Bitfinex got hacked in 2016 -- the price fell 20-30% within a day. By comparison, today's price just had a normal 3% fluctuation.
Why would bitcoin crash? Cryptopia isn't bitcoin, every exchange can and will be hacked.
This changes nothing, maybe the people who lost money will take this as a wake-up call and store their funds in addresses they actually own the keys to.
This changes nothing, maybe the people who lost money will take this as a wake-up call and store their funds in addresses they actually own the keys to.
To be more direct,btc will not crash due to cryptopia exchange that is hacked recently. We have seen centralize exchanges hacked in the past but btc price never respond vigorously to the hack.on the other hand,it may not be btc that is hacked on cryptopia exchange. However, the amount of coins/tokens hacked may be trivial to pose threat on the crypto market.
We should also know that cryptopia is not the largest crypto exchange in the world.So,there is high possibility that the entire crypto market won't witnessed huge dump due to the hack.
We should also know that cryptopia is not the largest crypto exchange in the world.So,there is high possibility that the entire crypto market won't witnessed huge dump due to the hack.
Cryptopia Hacked. Will BTC Crash?
I think they eat people money and than they say their Exchange hacked.
I don't see any dump in the market because of this news,we may face the consequence once there is an official announcement about the losses but still it is not going to make any further damage to the cryptocurrencies. I think they eat people money and than they say their Exchange hacked.
Damn. Another chaos begins.
https://www.coindesk.com/new-zealand-crypto-exchange-cryptopia-goes-offline-citing-major-hack
WEll seems like theres no bad effect in market because the movement is still the same as what yesterday’s circulations,anyway this is a bad news for cryptopias users and we cant take from them thinking that this is just a graceful exit and not really a hacking issue.in the end people will always think about them being scammed if this hacking will be their reason for closure https://www.coindesk.com/new-zealand-crypto-exchange-cryptopia-goes-offline-citing-major-hack
Cryptopia isn't even in the top 10 crypto exchanges in terms of daily traded volume why would you think that the stolen amount would be considerable to sway the overall market? The only thing that will make the market go down more is FUD rather than the stolen cryptocurrencies itself. I even doubt that the hackers would liquidate the money in this early stages as they know that they will be easier to track when they liquidate it to fiat. So remember its FUD that brings down the market so if the market is falling it would help that you won't be a part of the panic selling when it happens.
Just read it today, wonder how many people have suffered
Cryptopia Hacked. Will BTC Crash?
I think they eat people money and than they say their Exchange hacked.
I think they eat people money and than they say their Exchange hacked.
Markets are all in the Red.
I think it's right to saying crypto will crash because exchange got hacked because we must see for the first, what type of exchange that being hacked.
If it's big exchange, I think in this second, the value begin crashing !
Of course I hope that it will not happen but I won't be surprise if more people become untrust with crypto anymore in the future
If it's big exchange, I think in this second, the value begin crashing !
Of course I hope that it will not happen but I won't be surprise if more people become untrust with crypto anymore in the future
Sad news, Cryptopia is a good exchange but still hacked. The beginning of the year is bad news and hopes not to make Bitcoin destroyed, what's with Eth and why should Eth?
Let's see if they're going to pay everybody back...
I haven't read this whole thread yet and never used them, but they're out of New Zealand, right? That would seemingly be a good thing, since I'm pretty sure NZ has laws governing how exchanges have to conduct themselves. What I'm thinking about is some kind of insurance policy that an exchange would have to buy in order to handle people's money or some sort of plan in place in case of a hacking. Am I way off base here? I'm not sure what would happen if an exchange like Coinbase got hacked like this, but I'm fairly certain the US government wouldn't let them just not pay people their money. Having said that, I don't know what the laws are exactly for this kind of situation, either in the US or in NZ.
Yikes. So this is either an exit scam or a real hacking. Something tells me it's the latter, but we'll see. As far as this event's effect on bitcoin (or ETH), I doubt it'll be anything that lasts. It's not like this is a unique incident in the history of crypto.
never keep your cryptocurrency on the stock exchanges.
Oh, so you're saying I shouldn't store all of my bitcoin on the NYSE? OK, I'll think about your great advice. 
Yes, this is bad news, especially for those traders who trade on this exchange. This is another lesson for all, never keep your cryptocurrency on the stock exchanges.
Very sad news that cryptopia hacked .it can create a bad impact on bitcoin market and reputation. bitcoin market now dumping and after hacking cryptopia it would be more worser .
absolutely right and if that happens then bitcoin will definitely experience a more devastating price decline than yesterday. so it must have a big impact if cryptopia gets cracked 
The price of bitcoin is still moving sideways so it is safe to say that it has had little impact. I think they only took ethereum so that might get dumped rather than bitcoin
Even with that Ethereum will not be dump because of the range of stolen Ethereum in the Exchange. I have critically viewed the Hack as an attempt to distort the upcoming Ethereum HardFork which will not happen base on ETH amount stolen from the Exchange even at that level Cryptopia Exchange is a small type which haven't such powers to distort the BTC to crash nor even the ETH itself, so, nothing to worry about.
The price of bitcoin is still moving sideways so it is safe to say that it has had little impact. I think they only took ethereum so that might get dumped rather than bitcoin
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