Cryptopia news today
Cryptopia, a New Zealand-based cryptocurrency exchange, has been in the news recently due to a hack that occurred on January 15, 2019. Here are some of the latest updates:
Latest News:
- On February 26, 2019, Cryptopia announced that it had suspended all trading and withdrawals due to a security breach. The exchange stated that it was working to resolve the issue and restore services as soon as possible.
- On March 5, 2019, Cryptopia announced that it had begun the process of liquidating its assets and distributing them to affected customers. The exchange stated that it would provide more information on the liquidation process in the coming weeks.
- On March 12, 2019, Cryptopia announced that it had completed the liquidation of its assets and had distributed the majority of the funds to affected customers. The exchange stated that it would continue to work with customers to resolve any outstanding issues.
Background:
Cryptopia was founded in 2014 and was one of the largest cryptocurrency exchanges in New Zealand. The exchange offered trading in over 1,000 different cryptocurrencies and had a user base of over 1 million people.
On January 15, 2019, Cryptopia announced that it had been hacked, resulting in the theft of an estimated $16 million worth of cryptocurrency. The exchange stated that it was working to resolve the issue and restore services as soon as possible.
Investigation:
The New Zealand Police and the Financial Markets Authority (FMA) are investigating the hack. The FMA has stated that it is working with Cryptopia to determine the extent of the breach and to identify those responsible.
Reactions:
The hack has had a significant impact on the cryptocurrency market, with many investors expressing concern about the security of their funds. The New Zealand government has also expressed concern about the hack, with the Prime Minister stating that it is a "serious issue" that requires a "swift and effective response".
Conclusion:
The hack on Cryptopia is a significant event in the cryptocurrency market, and it highlights the need for exchanges to prioritize security and protect their customers' funds. The investigation into the hack is ongoing, and it is likely to take several months to determine the extent of the breach and to identify those responsible.