The first major crypto exchange hacking incident for 2019 was reported earlier today. According to a recent tweet from the official account of Cryptopia, a New Zealand based crypto exchange, the exchange suffered a major security breach yesterday, 14th January 2019.
Cryptopia is Not a Major Exchange
Cryptopia, which has about $1 million worth of digital assets getting exchanged on its platform every trading day made it known that the hack has led to a major loss of funds. The exchange has however not given any specifics as regards the current state of things and how much money in digital assets was lost during the hack.
Cryptopia moved into action upon discovering that a security breach has occurred. The exchange staffs made sure to inform the appropriate regulations and agencies. The local police “high tech crimes unit” has also been informed about the hacking incident and all entities involved are reported to be working together.
Cryptopia already placed its exchange platform on maintenance mode and all activities on the platform is now suspended. This is expected to continue until the crime unit completes the investigation.
The exchange further stated that: “We are committed to getting this resolved as quickly as possible and will keep you all updated every step of the way.”
A Staged Hack?
Interestingly, some notable members of the blockchain community are of the notion that the exchange must have faked a hack to flees its clients of their money. Whale Panda, a leading Bitcoin proponent and host of the Magical Crypto Friends podcast (Charlie Lee, Riccardo Spagni, and Samson Mow) is one of such individual. According to Whale Panda, the exchange was already dying out and not as relevant has it used to be during the 2018 peaks of the crypto market. He is of the belief that this is a way for the exchange to make ends meet.