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Cryptopia, NZ based exchange reports “significant losses” after a hack

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Cryptopia, a New Zeland based crypto exchange has halted their services after detecting a critical hack that has “resulted in significant losses” updates a tweet on January 15.

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Reportedly, the hack was carried out on January 14. Initially, users were informed that the exchange was undergoing unscheduled maintenance which was followed by several concise updates before officially informing about the hack.

As per the tweet, concerning authorities in the matter have been informed which includes, New Zeland Police and High Tech Crimes Unit and the matter is being treated as a crime of major degree.

The exchange has nearly 800 hundred cryptocurrencies listed, with many trading pairs including some lesser known assets. The current market of the exchange stays unknown.

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Following the news, many in the community have pointed out citing data from blockchain monitor of crypto exchange Whale Alert from January 13, which indicated that Cryptopia recently moved a large amount of Ethereum (ETH) out of its wallet.

A social media user commenting on it accused the exchange of an exit scam, saying it was pre-planned. As of press time, all this allegation stays unproven.

Previously also users of Cryptopia raised eyebrows when it moved their planned maintenance, providing some suspicious reasons. After this many users reported difficulties while withdrawing their funds even after the completion of the maintenance.

Last year, Cryptopia launched a New Zeland Dollar backed cryptocurrency called “NZed (Code NZDT)”.

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