New Zealand-based cryptocurrency exchange founded in 2014, Cryptopia has reportedly been hacked again after its initial hack was in 2019. It was being liquidated following the previous security breach.
That hack reportedly lost around NZ $24 Million. And after that, the wallet is reported to contain cryptocurrency assets worth NZ $2.7 million in total which reveals the previous breach stole about 98% of the total assets of the Cryptopia exchange.
In the latest hack that happened on February 1, 2021, about NZ $62,000 (US $45,000) had been transferred out of its cold wallet. Reported by stuff.co.nz. As from the report, the breach was alerted by a creditor, U.S. firm Stakenet.
But according to Liquidator Grant Thornton New Zealand, it hadn’t authorized the movement of assets, and that it is investigating the situation. The information is seen by an email received by Stuff.
However, here’s my opinion on the following cryptocurrency exchange and the security breach. I used to trade on Cryptopia lately when I got myself into cryptocurrencies. It was a good exchange. UI, Navigation was simple. But in terms of security, I don’t have experience in security features that most exchanges use today in Cryptopia. Even I remember, a lot of cryptocurrency scam projects were listed in Cryptopia.
What’s your opinion on the latest hack of Cryptopia? Did you use to trade on Cryptopia?