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Cryptopia Exchange Hacked Again While Under Liquidation

  • New Zealand-based crypto exchange Cryptopia was recently hacked again.
  • US-based firm Stakenet noticed the hack and reported it to the liquidator.
  • Grant Thornton, the liquidator, had recently started entering claims from users.

Cryptopia, a New Zealand-based crypto exchange, has been hacked again. Cryptopia filed for liquidation in 2019 after unknown hackers ‘hacked to death’ earlier that year.

The exchange has lost a further NZ62,000 (US$45,000) in the latest breach. Previously, Cryptopia lost NZ$24 million (US$15.5M) in what some believe to be a series of hacks. The victim, US-based firm Stakenet, discovered the latest hack.

Stakenet noticed that some of its XSN coins had been removed from its cold wallet. The Stakenet wallet had been dormant since the 2019 hack, but the firm kept a close eye on its known crypto addresses. Thus, enabling the firm to notice the breach even before Grant Thornton (GT), Cryptopia’s liquidator, did.

GT recently started entering claims from former Cryptopia users. However, it is yet unclear how the new hack will affect the claims process or GT’s position.

The firm became the liquidator after Cryptopia filed for bankruptcy. The exchange made the move to protect its data. The US-based storage company kept the exchange’s data. Prior to threats from the storage company, Cryptopia had intended to resume operations.

In addition, have users long suspected that the first hack was an inside job. With the recent hack, crypto fans are once again speculating if this is another inside job.

Tina Mutare

Avid reader and writer with a passion for sharing crypto news and trends. Uses her background in finance to help readers better understand the crypto market and investments. Hopes to see mainstream crypto adoption in the near future, especially in Africa.

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