Finally Cryptopia Opens Up On The Loss Of 9.4% Of Crypto Holdings

Author: Sohrab Khawas

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    It was on January 14 when the Cryptopia Exchange suddenly shut down its platform, suspending trading, while citing “unscheduled maintenance”. On 15th January midnight which was about 20 hours, the exchange tweeted saying Cryptopia suffered “security breach” claiming that the company was facing “significant losses”.

    When Cryptopia’s C-suite and top brass received the information, an immediate shift to maintenance was necessary to assess damages. Cryptopia also contacted local police, along with the Commonwealth nation’s “high tech crimes unit.”

    According to the firm’s researchers over $16 million U.S. dollars worth of Ethereum and ERC20 tokens were missing. Also $3.57 million of the sum was in ETH, $2.446 million in Dentacoin, $1.948 million in Oyster Pearl, and the list goes on. Other tokens, including TrueUSD, OmiseGO, Sirin Labs, ZRX, and Augur’s REP, were also stolen.

    Despite all these losses, Cryptopia was still quite. But after quite a long wait the company revealed on Tuesday giving us the latest update.

    The tweet read that after all the calculation, the company gathered information that a worst case of 9.4% of holdings were stolen in the hack. This clearly means that most of the cold wallets were left untouched in this imbroglio.

    But referring to the Elementus’ Report, Cryptopia still has over $100 million worth of assorted digital assets under lock and key. Until the company details about the whole incident, no one is sure what has actually happened.

    Responding to which Bit Bit tweeted saying,

    No matter what, Cryptopia is doing its best to get back on track.

    What is your opinion on the this Cryptopia loss? Share your thoughts on our Facebook and Twitter pages.

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