End Of The Road To Cryptopia? After Loosing $16M To Hackers. - page 4.

Netnox

legendary

Activity: 2044

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Quote from: nik009 on May 17, 2019, 02:17:31 AM

I guess some people think that Cryptopia hacked themselves in order to justify the proposed closure now, people lost their money without no hope of refunding anything.

I really doubt that. The stolen coins (especially ETH and the tokens) are being tracked now and the hacker won't be able to cash them out any time soon. At the same time, the investigation is ongoing and the details of every transaction ever made on Cryptopia is being analyzed. If the Cryptopia admins wanted to close down their exchange, then this was not the most intelligent option for them. The evidence also points otherwise. It looks as if the hack was done by organized criminal groups from Eastern Europe (Cryptopia is based in New Zealand).

nik009

hero member

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I guess some people think that Cryptopia hacked themselves in order to justify the proposed closure now, people lost their money without no hope of refunding anything.

bisdak40

hero member

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DGbet.fun - Crypto Sportsbook

Quote from: sabine80 on May 15, 2019, 08:26:35 PM

yes, that is the end of cryptopia. i really enjoyed using this exchange, but by the sudden closing down i lost about 0.001 btc. that is not a lot of money, but annoying anyway. to come back after the hack, and then close again after a few days is stupid. now, more people have lost money and it will take time to make good on their claims. Roll Eyes

Can relate on how you feel bud Sad

. Cryptopia is the first exchange i used to trade my tokens when i engaged myself into crypto and i used to think that this exchange is good but then i am wrong. Lost my ether and some tokens there though not that big but still it is frustrating to lose our own money. Hope they will have some good news on how to refund their customers who lost money on their exchange.

sabine80

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Activity: 728

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Quote from: webtricks on May 16, 2019, 11:45:11 AM

Quote from: sabine80 on May 15, 2019, 08:26:35 PM

yes, that is the end of cryptopia. i really enjoyed using this exchange, but by the sudden closing down i lost about 0.001 btc. that is not a lot of money, but annoying anyway. to come back after the hack, and then close again after a few days is stupid. now, more people have lost money and it will take time to make good on their claims. Roll Eyes

What did you like so much about Cryptopia? Cryptopia was the perfect home for shitcoins. What ICO started doing was after raising some 1000-2000 ETH, they used to pay 50-70 ETH listing fees on Cryptopia, make investors happy and then ran away with rest of the money. Due to this common practice, Cryptopia had the largest volume of shitcoins after HitBTC. Both these exchanges care more for money than development. There were regular pumps/dumps on Cryptopia.
That's why I used to hate Cryptopia and never used it after 2017.

i did my first trades on cryptopia and it always worked well. the registration worked without kyc and was very easy. yes, there were many shit coins on cryptopia, but you could also trade important coins there.
i think that is why i liked the exchange. it was certainly not the best exchange, but to gain experience it was enough.

coin-investor

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Activity: 2996

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Leading Crypto Sports Betting & Casino Platform

Quote from: MOProgress on May 15, 2019, 08:03:55 PM

Cryptopia Exchange has Gone Into Liquidation After Hackers took away what was reported to worth about $16M in January this year. The New Zealand exchange going down!
In this news; https://www.cryptoinformers.info/news/137-cryptopia-exchange-goes-into-liquidation-after-hack the story of the hack was told.

The right decision for them, they will eventually go down the drain, because people will not trust them anymore, two times hacked will make the investors think if this is a good exchange, with good security, there are a lot of good exchange, they will be left in the race.

Melo20

jr. member

Activity: 126

Merit: 2

It's the right decision made by Cryptopia after the hack, the decision is in the best interest of customers, staff, and other stakeholders. My loss pained me, but still gat to move on.. It's crypto

ololajulo

sr. member

Activity: 2240

Merit: 270

SOL.BIOKRIPT.COM

Also it was a bad time for hack for the exchange, it could be in the estimate of value of bitcoin with binance. I think exchanges should be making financial provision to fall back on for possible hack, since they make good profit their services.

wheelz1200

legendary

Activity: 3752

Merit: 1415

Cryptopia isn't the first and it definately wont be the last. Until people stop using exchanges as a main wallet (yes people do this) AND exchanges employ a higher level of security there is too much to gain for professional hackers to back off. It's very quick and profitable for them. Cryptopia is just another notch in the bedpost

bitcoinmar

hero member

Activity: 812

Merit: 500

It's time to say goodbye to a commemorative exchange in 2017, I've had a lot of memories with it since altcoin pumps, I was happy with that, but I still know that this is an exchange completely secure. So I have withdrawn everything before this happened

smyslov

sr. member

Activity: 2030

Merit: 269

Quote from: MOProgress on May 15, 2019, 08:03:55 PM

Cryptopia Exchange has Gone Into Liquidation After Hackers took away what was reported to worth about $16M in January this year. The New Zealand exchange going down!
In this news; https://www.cryptoinformers.info/news/137-cryptopia-exchange-goes-into-liquidation-after-hack the story of the hack was told.

This is what's going to happen to exchange that cannot keep up with its security, it's the second time around if they still continue operation I don't think traders will trust them again, it's sad that an old exchange is folding down, but it's a tough competition, you'll get hacked if you are not up to date with your security.

kindbtc

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Activity: 1008

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This is another sad ending but i am happy that they just did not simply closed the doors i like the fact that they are liquidating the business so everyone will receive their share of the coins and i hope that the hacking loss will be beared by the cryptopia team.

niisarearning

sr. member

Activity: 910

Merit: 252

Quote from: webtricks on May 16, 2019, 11:45:11 AM

Quote from: sabine80 on May 15, 2019, 08:26:35 PM

yes, that is the end of cryptopia. i really enjoyed using this exchange, but by the sudden closing down i lost about 0.001 btc. that is not a lot of money, but annoying anyway. to come back after the hack, and then close again after a few days is stupid. now, more people have lost money and it will take time to make good on their claims. Roll Eyes

What did you like so much about Cryptopia? Cryptopia was the perfect home for shitcoins. What ICO started doing was after raising some 1000-2000 ETH, they used to pay 50-70 ETH listing fees on Cryptopia, make investors happy and then ran away with rest of the money. Due to this common practice, Cryptopia had the largest volume of shitcoins after HitBTC. Both these exchanges care more for money than development. There were regular pumps/dumps on Cryptopia.
That's why I used to hate Cryptopia and never used it after 2017.

Yes even that is what my concern atleast they could have allow us to release other tokens and coins which we had it in exchange . I lost done ether in this hack . But I too had electroneum and done other coins in this exchange . They should allow us to withdraw atleast that.

ZEIIMAN

full member

Activity: 924

Merit: 112

In fact, the sad news is, there are some coins left in there. Someone wrote to support about what will happen with the balance of the user? I am very much concerned about this question, as has not yet received an answer.

niisarearning

sr. member

Activity: 910

Merit: 252

Quote from: MOProgress on May 15, 2019, 08:03:55 PM

Cryptopia Exchange has Gone Into Liquidation After Hackers took away what was reported to worth about $16M in January this year. The New Zealand exchange going down!
In this news; https://www.cryptoinformers.info/news/137-cryptopia-exchange-goes-into-liquidation-after-hack the story of the hack was told.

I wanted ask question I am having fund in exchange when it will be withdrawable . Also need to understand how about the stolen ethereum from my account it will be returned .

PuertoLibre

legendary

Activity: 1890

Merit: 1003

Quote from: MOProgress on May 15, 2019, 08:03:55 PM

Cryptopia Exchange has Gone Into Liquidation After Hackers took away what was reported to worth about $16M in January this year. The New Zealand exchange going down!
In this news; https://www.cryptoinformers.info/news/137-cryptopia-exchange-goes-into-liquidation-after-hack the story of the hack was told.

They didn't perform well in the bear market and last news shattered their reputation hard. Following the hack, the exchange management didn't stick to the promises they talked, shared to each customer with bulk email. Binance really managed hack speculation very well than losing the control like Cryptopia.

erikalui

legendary

Activity: 2632

Merit: 1094

After cryptopia trying to fool traders by promising them to return their funds and then disappearing into thin air, I wonder what Binance plans to do. I don't trust any exchange now and they just want to fool their users by saying they lost funds and make bigger promises to get back their lost funds before they shut down completely.

StatesManG

copper member

Activity: 462

Merit: 10

I suspected a fowls play in the closure of cryptopia. This was not just about the hack, I think this is an exit scam, cryptopia stole from the platform to run away with it.

nik009

hero member

Activity: 1542

Merit: 545

16M.. that's too great a sum for not top exchange, it's really sad to hear about Cryptopia liquidation. So the actual coin holders will get zero, feel sorry for those who left assets there.

xOdiumNostrumx

full member

Activity: 1064

Merit: 101

Its only a matter of time when these tier 4 exchanges bite the dust. Their security systems are surely sub-par so they are an easy targets for hackers. I have read some confessions of people that were holding their funds on Cryptopia, which is naive beyond belief, but I still feel bad for them. If you really have to hold your tokens on an exchange, at least go with Binance ffs.

Mrsparks

jr. member

Activity: 406

Merit: 5

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Very sad.. This was actually the first exchange I practiced trading sometimes 2017. They really got it all wrong with their security measures and ultimately have to short down operations.. I hope this would serve as a lesson to other exchange in the crypto space..

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