Stolen Cryptopia funds detected on Binance

Posted 17 January, 2019

Events involving the New Zealand-based Cryptopia crypto trading platform has kept developing further on Thursday. Some of the funds that were stolen after the platform's hack earlier this week have been detected on the Binance exchange.

It was reported earlier that the NZ exchange officially had notified users about a security breach and huge losses suffered by the platform this Tuesday. After the incident, the company suspended trading operations and informed local police department about the situation.

The police confirmed the fact of the hack attack and initiated an investigation of this case. There are rumours that possible losses can amount to some $3.6 million. Meanwhile today, some users pointed out that Cryptopia's coins could appear on the Binance exchange.

After studying the matter, the exchange CEO Changpeng Zhao replied in Twitter account:

"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 manoeuvre for them".

There is no information about the total amount of the stolen funds that were transferred to Binance. Nevertheless, the community keeps monitoring suspicious large transactions coming from Cryptopia-connected wallets to Binance.

Cryptopia in its turn refused to comment on this matter citing the ongoing investigation.

Notably, some market players started expressing suspicions on exit scam saying that the heist could be launched inside the platform.

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17 January, 2019 16:45

← Stock Exchange of Thailand targets cryptocurrency license and new exchange

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Stock Exchange of Thailand targets cryptocurrency license and new exchange

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Short-term Ethereum derivatives outlook not look good, LedgerX CEO shares view →

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