As per the Auckland-based news agency – The New Zealand Herald, Cryptopia is all set to be relaunched and resume operations as confirmed by the New Zealand Police after the crypto exchange was hacked recently. The High-Tech Crime Group has completed most of the work required at Cryptopia’s business premises in Christchurch. In a few days, Cryptopia management would have full access to their business premises and other facilities required for daily operation as stated by Detective inspector Greg Murton.
As of now, the police are not preventing Cryptopia to continue with its normal operations. When asked on the future course of action, the police declined to specify anything on the charges and other details. Even the police denied making any comments on the amount of cryptocurrency being stolen. New Zealand police have claimed that they do not have any issue with the normal operation of Cryptopia and it is left to the company to operate again whenever they like. However, the website of the company’s remains offline and shows a maintenance report. As per the leading news agency of New Zealand, The New Zealand Herald, Cryptopia management have neither officially confirmed any timeline by which the company would resume operations nor have responded to any queries either. Also, the social media accounts of Cryptopia have also been inactive since Jan. 28.
Cryptopia is a New Zealand cryptocurrency exchange based in Christchurch. Cryptopia was founded in 2014. In May 2017 Cryptopia launched the New Zealand Dollar Token (NZDT), a cryptocurrency whose value is supposed to be pegged to the New Zealand Dollar. From May to December 2017 Cryptopia grew from 30,000 to 1,000,000 users. In January 2018, they temporarily suspended new account registrations and trading in their Dogecoin and Litecoin markets as they could not handle the influx of trades.
Currently, New Zealand Police have launched a massive search and are investigating the matter with help from international law enforcement agencies to track the hackers. The hack has led to swindling around $16.1 million from New Zealand’s major crypto exchange. As per the report, the hacking began on Jan. 15 and lasted for about two weeks, with funds amounting tens of thousands removed from of Ethereum (ETH) wallets.
As per the leading news agency, The New Zealand Herald, estimates of the amount of stolen could be worth up to $23 million.
In a recent status update, the New Zealand police claimed to have excellent progress on their investigation of the Cryptopia hack, also accepting the fact that the process might take a considerable amount of time to resolve to keep into consideration the complexity of the cyber environment.
Previously on 4th Feb, it was reported that around $3.2 million in stolen tokens from Cryptopia had been liquidated on various cryptocurrency exchanges, with the majority of the funds going through Bitbox, Etherdelta, and Binance.