Crypto Hacks: Hackers Stolen $3.2 Million in Tokens From Cryptopia Hack

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

$3.2 million in tokens stolen from New Zealand-based cryptocurrency exchange Cryptopia have been sold on liquidated on major cryptocurrency exchanges.

The hack, which is apparently the first significant security break of 2019, was declared by the platform on Jan. 15. The exchange said that the hack happened on Jan. 14. Cryptopia at first told users it was experiencing unscheduled maintenance, liquidated on major cryptocurrency exchanges.

Value of liquidated tokens as of Feb. 2 Source: Elementus

On Jan. 20, Elementus detailed that as much as $16 million worth of Ethereum (ETH) and ERC20 tokens were stolen. The attack proceeded for about fourteen days following the initial breach as the exchange had not recovered control of its wallets. Hackers stole an extra 1,675 ETH ($175,875) from 17,000 Cryptopia wallets, with Elementus expressing that, among the 17,000 affected wallets, 5,000 were emptied when the platform was first breached, but subsequently refilled.

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Per the Feb. 4 tweet by Elementus, the hackers have sold $3.2 million of the stolen tokens on significant trades, with the most funds experiencing Etherdelta, Binance, and Bitbox.

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Following the Jan. 15 announcement of the hack, Cryptopia educated government organizations and experts like the High Tech Crimes Unit and the New Zealand Police, who have allegedly opened an investigation after considering the incident a major crime.

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https://twitter.com/komedyen83/status/1093634264502075392

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