$16 million worth of Ethereum & ERC20 tokens stolen during Cryptopia hack

The year started with a bang as one of the leading exchanges reported a case of cryptocurrency heist that occurred on their platform. The exchange in the spotlight here is Cryptopia, a New Zealand cryptocurrency exchange. The platform released an official statement on January 15, 2019, stating that they faced a security breach, which resulted in a significant loss.
The platform, however, has still not disclosed details pertaining to tokens that were stolen from the platform and the worth of the tokens. To add on, the announcement stated that the exchange will be under maintenance until the case of the stolen tokens has come to a conclusion. It is currently being taken care of by the New Zealand police officers and the required regulatory authorities have been informed about the incident.
Now, a research by Elementus, a next-generation blockchain analysis company, outlines the timeframe of the heist and total tokens that were lost. The report stated that the funds were moved from the platform’s two hot wallets, one had Ethereum [ETH] and the other had ERC20 tokens, on January 13, 2019, 1:28 PM GMT.

This was followed by the disclosure of the cryptocurrencies that were stolen. The report stated that Ethereum and ERC20 tokens were worth about a whopping $16 million. It further states that this number was taking into consideration only information found on the Ethereum blockchain.
“The funds were taken from more than 76k different wallets, none of which were smart contracts. The thieves must have gained access to not one private key, but thousands of them […] It seems Cryptopia not only lost their funds, they also lost access to all, or nearly all, of their 76k+ Ethereum wallets.”
The largest amount of cryptocurrencies that were stolen was Ethereum, Dentacoin, Oyster Pearl, Lisk ML, Centrality, Mothership, Ormeus, DAPS, Zap, and Pillar.

Additionally, according to the report, the cryptocurrencies were spread across fourteen exchange platforms. The largest amount of cryptocurrencies were sent to Bibox, an AI-enhanced, encrypted cryptocurrency exchange platform. The second in line was Binance, the largest cryptocurrency exchange in terms of trade volume, and the third on the line is noted to be Houbi. The report suggests that the hackers have transferred over $882,632 out of the $16 million and that the majority of the tokens are still held in two different wallets.

The two wallets that have the stolen funds are identified to be 0x9007A0421145B06a0345d55a8C0f0327f62A2224 and 0xaA923Cd02364Bb8A4c3d6F894178d2e12231655C. These wallets have an approx. of $13 million worth of cryptocurrencies. Moreover, the report concludes that there are still over 1948 Ethereum wallets and about $46k in Ethereum remain at risk.
The post $16 million worth of Ethereum & ERC20 tokens stolen during Cryptopia hack appeared first on AMBCrypto.
Source: AMB Crypto

Top Trending Cryptocurrency News of The Week; Constantinople, Cryptopia, Bitmex and Tron Among Major Newsmakers

Ethereum delays its Constantinople upgrade
Problems for Ethereum continued as the much anticipated Hard Fork Constantinople upgrade was further delayed as a code audit by ChainSecuirty-  a smart contract security audit firm found some serious security vulnerabilities to Ethereum smart contracts. The Core Development team took notice of the flaw, and on the following conference, they announced that the hard fork is now scheduled to occur on, or around, February 27th on block number 7,280,000.
NZ’s popular exchange Cryptopia gets hacked
Earlier this week, 2019 saw its first hack of a cryptocurrency exchange. New Zealand-based cryptocurrency exchange Cryptopia was reported to have suffered a security breach and went under unscheduled maintenance to assess the losses incurred. The team informed the community using its official Twitter handle which said that once the hack was identified by staff, the exchange informed and involved the appropriate government agencies including the NZ police and High Tech Crime Units who were actively investigating.
Bitmex ends services for US and Quebec customers
In face of a current crackdown on unlicensed crypto exchanges, Bitmex announced that it is in the process of closing down trading accounts of those in Quebec and United States. The mouthpiece, South China Post reported BitMEX was not registered with the Canadian regulatory body Autorité des marchés financiers (AMF) and is therefore not authorized to have activities in the province of Quebec making the company’s activities were illegal.
Exchange giant OKCOin lists Tron
Among major listings this week, Tron found itself on a new exchange, this time it was OKCoin. OKCoin customers would now be able to acquire Tron tokens by using USD, BTC, and ETH. OKCoin stated in their announcement that, Tron is one of the leading coins and has 1,423,377 holders and that it is one of the top 10 cryptocurrencies in the world by market capitalization.
Russia denies buying cryptocurrencies
Last week a newsflow from Russia stated that the country was moving towards adding bitcoin to its national reserves. But it seems it was all fake. Following the last week’s news, an official with the Russian State Duma. Elina Sidorenko who chairs the Duma’s cryptocurrency group said that the news was only a rumor and the nation currently has no such plans. According to her, the nation would need at least 30 years to implement this idea.
Indian Apex Court delays Crypto hearing again
The Indian apex court has again delayed the hearing of the cryptocurrency case. The case is being delayed for the past 6 months now as the largest democracy of the world still awaits a decision on the newest form of “money”. While things still look meek, according to sources close to the case a decision may come on February 26, 2019, as the crypto case is now listed as the first case to be heard on February 26, 2019
The post Top Trending Cryptocurrency News of The Week; Constantinople, Cryptopia, Bitmex and Tron Among Major Newsmakers appeared first on Coingape.
Source: CoinGape

Cryptopia hack: Case involving Ethereum-based tokens takes a new turn in the market

Earlier this week, Cryptopia, a cryptocurrency exchange based in New Zealand, announced that they have lost funds due to a security breach. This is one of the notable exchanges that was compromised by a hack at the beginning of 2019. To add on, the exchange platform continues to be under maintenance and the amount that was compromised by the hack has still not been disclosed by the team.
This case is currently being investigated by the New Zealand police and the required regulatory authorities have been notified about the hack. In their recent statement, the police revealed that the inquiry into the hack is still in its early stages and that they were still figuring out what happened and how the hack happened.
They further stated that they were still not authorized to reveal the amount involved in the hack and the details pertaining to the cryptocurrencies.
The police claimed that a large team is currently working on the case, including the Canterbury CIB. They added that the investigation includes both forensic digital investigation of the company and a physical scene examination at the exchange’s office building. Additionally, the police have also stated that it is difficult to put a timeframe on how long the investigation may go on for as they are currently in a “complex situation”.
Recently, a Twitterati, ShaftedTangu announced that the stolen funds were being transferred to Binance, one of the biggest cryptocurrency exchanges in terms of trade volume, in various currencies. He further urged the Binance team to take action quickly and freeze the account. Following this, the team was able to successfully freeze the funds on their platform.
Changpeng Zhao, the CEO of Binance:
“Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high risk maneuver for them.”
Meme_Pope, a Redditor, said:
“Binance notified of suspicious activity. Frozen immediately. Cryptopia notified of suspicious activity. Call the cops 36 hours later.”
its_Lucider, another Redditor, said:
“Tbh if criminals are that stupid, he should not be highlighting the fact that he froze the funds and mentioning that they shouldn’t send to binance… Keep it on the low… let dumb people make dumb mistakes and provide justice from the shadows. Don’t allow future criminals to learn from other criminal’s mistakes. On another note, much props to Binance for being so proactive.”
The post Cryptopia hack: Case involving Ethereum-based tokens takes a new turn in the market appeared first on AMBCrypto.
Source: AMB Crypto

Hack or Exit Scam? Cryptopia Users’ Millions of Dollars at Risk of Loss

Cryptopia exchange has reported a security breach and incurring significant losses, sparking the speculation of this being an exit scam as just a day before more than 19k ETH and 48 million CENNZ has been moved to unknown wallet.
Fading Exchange Making an Exit Scam?
New Zealand-based cryptocurrency exchange Cryptopia took to Twitter to announce that they have suffered a security breach. The exchange first reported about it the day before yesterday that it has been under unscheduled maintenance,
“We are still experiencing unscheduled maintenance. Our team is working hard to resolve this and we will provide an update soon.”
However, a day passed and the exchange has been still down. That’s when the exchange reported a security breach.

On January 13, the exchange first reported unscheduled maintenance. Yesterday, the exchange revealed that the security breach has resulted in “significant losses.” The breach was, as reported by Cryptopia has been identified by a staff member and now it is working the local police force and government agencies to resolve the issue.
The local police reported,
“A significant value of crypto-currency may be involved and Police are taking this very seriously. We are currently talking to the company to gain a further understanding of what has occurred. A dedicated investigation team is being established in Christchurch including specialist police staff with expertise in this area. Police are also liaising with relevant partner agencies in New Zealand and overseas. The investigation is still in its very early stages and police are unable to provide further information tonight.”
The news of Cryptopia being hacked got the crypto community talking as the crypto trader, investor, and venture capitalist, Crypto Squeeze conducted a poll to know its impact.

Just yesterday, the exchange website was showing the maintenance sign and to be back soon and now it has updated it with the security breach announcement.

According to Coinmarketcap data, the exchange has over 800 active markets with the trading data updated about 52 hours back. Over the time, the trading volume of Cryptopia exchange has dwindled as shown in the data provided by Coinlib.

Source: https://coinlib.io/exchange/cryptopia
Crypto Squeeze yesterday called out an exit scam on Cryptopia.

On January 13th while the exchange was undergoing maintenance, Whale Alert reported the transfer of 19,391 #ETH (2,438,152 USD) and 48,029,306 CENNZ (1,176,596 USD) from Cryptopia to an unknown wallet.

This calls into questions these big transfers made on Sunday while the exchange reported having unscheduled maintenance on the same day. The big transfer of funds, maintenance, and the hack could be separate events. But the fact that the company announced the hack on Tuesday when it actually occurred on Monday puts a twist to the situation.

Whale Panda, a popular Bitcoin advocate also took to Twitter to share the fact that over the time the exchange has become irrelevant. According to the Similar Web data, the Cryptopia exchange website registered 8.5 million visitors in July 2018 that shot down to about 5 million in December 2018.

At this point, the police are investigating about which the officials will be updating soon while the exchange says, “We are unable to update anyone at the moment as it’s now a police matter.”
The post Hack or Exit Scam? Cryptopia Users’ Millions of Dollars at Risk of Loss appeared first on Coingape.
Source: CoinGape

Breaking: Crypto Exchange Cryptopia Hacked, Police Starts Investigation

Although 2019 is expected to be a turnaround year for the broader Bitcoin market, a crypto exchange recently divulged that it had fallen victim to a “security breach.” This is the exchange hack of 2019.
First Crypto Hack Of 2019
On Tuesday morning, Cryptopia, a lesser-known crypto exchange centered around small cap assets, took to Twitter to release a harrowing piece of news. Company representatives claimed that on January 14th, Cryptopia, a platform that trades approximately $1 million of digital assets each and every day, “suffered a security breach.”

pic.twitter.com/0ZwqFfwwHi
— Cryptopia Exchange (@Cryptopia_NZ) January 15, 2019

The signed message revealed that the security breach resulted in “significant losses,” but the exact specifics of the cryptocurrencies lost weren’t plainly stated. Once Cryptopia’s C-suite and top brass found out about this unfortunate occurrence, an immediate shift to maintenance was deemed necessary, as staff “assessed damages.”
After further digging and analysis, Cryptopia’s staff team, primarily situated in New Zealand, contacted the appropriate agencies, including the local police force and “high tech crimes unit.” The aforementioned entities are currently working hand-in-hand with the exchange to fix the “major crime.” Cryptopia explained that until a proper investigation has been completed, the platform will remain in maintenance, with crypto trading being suspended. In closing, the firm wrote:
“We are committed to getting this resolved as quickly as possible and will keep you all updated every step of the way.”
Just thirteen hours earlier, the company claimed that it was “experiencing unscheduled maintenance,” likely a preemptive hint that it had fallen victim to a hack.
Bitcoin Community Reacts
As this news propagated, the crypto community at large began to react. Whale Panda, a leading Bitcoin proponent and host of the Magical Crypto Friends podcast (Charlie Lee, Riccardo Spagni, and Samson Mow), hinted that the hack may not be innocuous as it may initially seem.

Looks like @Cryptopia_NZ got "hacked". Cryptopia used to be very popular at one point but has since then become mostly irrelevant.https://t.co/Fzb110s7Gc
— WhalePanda (@WhalePanda) January 15, 2019

Panda noted that Cryptopia used to be a popular exchange, especially during early-2018’s altcoin peak, as ambitious traders flocked to the platform to trade lesser-known cryptocurrencies in search of monumental rallies. The commentator, going along with his cheeky theory, that the hack wasn’t a “hack,” explaining that this occurrence comes as “small exchanges are struggling to make ends meet.”
Due to the relative obscurity of the platform, the market has barely moved on the news. Other than a $30 candle to the downside, it can be said that the hack had no effect on the Bitcoin price.
This is an ongoing situation, but NewsBTC will be sure to keep you in the loop. Keep on checking in. 
Featured Image from Shutterstock
The post Breaking: Crypto Exchange Cryptopia Hacked, Police Starts Investigation appeared first on NewsBTC.
Source: New feedNewsBTC.com

Upcoming Ethereum Constantinople Hard Fork Already Backed by 19 Exchanges Worldwide

CoinSpeaker

Upcoming Ethereum Constantinople Hard Fork Already Backed by 19 Exchanges Worldwide

Ethereum is preparing for its next milestone – Constantinople hard fork. The launch is planned in four stages: Frontier (beta stage to develop and test dapps), Homestead (to stabilize the platform), Metropolis (ongoing) and Serenity (upcoming).

Upcoming Ethereum Constantinople Hard Fork Already Backed by 19 Exchanges Worldwide

Continue reading at Coinspeaker
Source: CoinSpeaker

Another Stablecoin as New Zealand plans to relaunch New Zealand Dollar Token (NZDT)

The frenzy around Stablecoins doesn’t seem to be ending as of now every exchange or business just needs to have piece of it. While all leading crypto supportive countries have announced their plan for Stablecoins, New Zealand doesn’t want to stay far behind in this race as it plans to relaunch it New Zealand Dollar pegged New Zealand Dollar Token (NZDT)
NZDT don’t want to repeat its mistakes of 2017
In May 2017 Cryptopia, New Zealand’s largest cryptocurrency exchange launched the ‘NZed’ (Code NZDT), the first cryptocurrency token tethered to the New Zealand dollar. The move had come after several speakers at the blockchain conference, including Xero’s Grant Anderson, raised the need for Kiwis to have a crypto-based New Zealand dollar. This quick step driven by excitement led Cryptopia to commit an error. The launched stablecoin was unregulated and had applied for no licenses. Due to this, it was eventually delisted from Cryptopia – New Zealand’s most popular crypto exchange – and the project was put on hold.
However, things seem to be changing now for as Cryptopia has been working closely with the government to help educate the members and ensure that they are fine with the stablecoin before it’s launched. This will mean that the NZDT will have full support and backing of the government and it’s highly likely that the stablecoin accounts will be audited with the results being publicized.
This were very different then as the government of New Zealand was stuck in an unsure state over the crypto market as a whole, and this led to the NZDT being pulled from Cryptopia. In fact, the government was very close to passing a bill preventing any crypto activity from happening in the country, but it decided not to pass the bill at the last minute. From there, the government has worked closely with the Australian government and it’s slowly changing its stance towards cryptos to become more favorable of the digital assets.
Govt. backed stable coins rising in numbers
If this relaunch comes out to be good and government-backed, this stablecoin could achieve never heights of where it had left out in 2017 before being pulled out of the exchange. According to the numbers then When the NZDT was in full swing, its popularity saw over $1 million NZD being transferred into NZDT every day. All a user had to do was create an account, send their fiat into Cryptopia’s bank account and it instantly issued the user with NZDT. Its efficiency helped it grow to a become behemoth of a market within only four months from its initial launch.
While Cryptopia is still working on the relaunch it has one eye on the checklist of mistakes that Tether had committed. It would definitely want to avoid those in order to be successful. Tether was one of the most popular USD stablecoins on the market, but it ran into some trouble. Undisclosed banking information combined with reports of market manipulation have hurt Tether’s price. Cryptopia would definitely want to avoid that. Banking partners are vital in order for Cryptopia and the NZDT to prosper, and picking the wrong bank can doom the project from day one.
The NZDT will once again give citizens from New Zealand an easy entry into crypto markets, without the need for using a different fiat currency to get started. Hopefully, Cryptopia and the NZDT hit the ground running.
Will NZDT be able to hold background and ride the ladder of success again from where it had left? Do let us know your views on the same
The post Another Stablecoin as New Zealand plans to relaunch New Zealand Dollar Token (NZDT) appeared first on Coingape.
Source: CoinGape