Crucial Highlights Surrounding Cryptopia's 2019 Relaunch Announcement
Scroll DownOn March 18, Cryptopia, which is a digital currency exchange in New Zealand, announced in a tweet that they would be resuming the trading of 40 currency pairs. This comes months after the exchange suspended operations due to the hacking of its systems. The announcement came just a day the exchange said that it planned to fully resume trading by the end of this month. In January of this year, the exchange shut down after it itself had discovered that its systems had been hacked. At the time, they said that the hack had "resulted in significant losses," which have since been reported to be around $16 million. Initially, the exchange simply announced that they had suspended operations because of some unscheduled maintenance. But, after issuing a number of updates, they finally let on that they had been the victim of an attack. There have been reports since then that the hacking continued even after this announcement, and that losses accrued for another two weeks. On March 5, Cryptopia relaunched its website, though only in a read-only mode. The platform displayed trading balances as of January 14, which was the day the site was attacked. But users were able at this time to change their passwords as well as to set up two-factor authentication on their accounts. Rob (Hex) Dawson, who is one of the co-founders of Cryptopia, issued a statement back then indicating that those users who had suffered losses because of the attacks would see details of these losses on the site. He said that they would be listed under a section entitled "Withdraws on your account for those coins," but he gave no indication that they would be rectifying these losses. The reaction to the resumption of trading at Cryptopia was decidedly mixed. While some users expressed happiness that the exchange was back in business, others were not so happy and were not shy in expressing this. One user even accused the exchange of trading manipulation because of how they reopened trading. Another user, after seeing his losses listed on the site, demanded that his stolen Bitcoins be returned to him.
Comments