Cryptopia offline: security flaw brings serious losses

Posted 15 January, 2019

The Cryptopia crypto platform from New Zealand announced a suspension of the trading operations due to a security incident that caused heavy losses.

The company posted the notice in its official Twitter account today. At the same time, the concerns among its users arose early Tuesday given several reports about unscheduled maintenance at the platform that was made in the course of the day. 

"We apologize for the delay in keeping you updated and appreciate your patience. Yesterday, 14 January 2019, the Cryptopia Exchange suffered a security breach which resulted in significant losses. Once identified by staff, the exchange was put into maintenance while we assess damages", reads the company's statement.

As the company noted, the platform informed state authorities once the incident was detected. Specifically, the notification was sent to NZ Police and High Tech Crimes Unit, "which are jointly and actively investigating the matter as a major crime."

As a result, the platform will remain offline until the problem is resolved. The exchange spokesperson said that their technical team are doing their best to crack the problems at the earliest possible day.

The platform used to be highly popular among crypto market players thanks to its wide range of offered altcoins.

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