Analysts estimated the loss of the Cryptopia exchange from a hacker attack at $ 16 million New Zealand cryptocurrency exchange Cryptopia could lose $ 16 million in Ethereum and ERC20 tokens as a result of a hacker attack, analysts at Elementus say.

Analysts have estimated the losses of the Cryptopia exchange from a hacker attack at $ 16 million

New Zealand cryptocurrency exchange Cryptopia could lose $ 16 million in Ethereum and ERC20 tokens as a result of a hacker attack, analysts at Elementus say.

On last week Cryptopia went into “unplanned maintenance” and then announced that it was hacked, without specifying the amount of losses, but calling them “significant”.

According to Elementus, which analyzed data from the public blockchain Ethereum, funds from the two main Cryptopia wallets began to be withdrawn on the morning of January 13th. In the afternoon, when these addresses were already emptied, more than 76,000 secondary wallets came in turn, operations on which were carried out until the beginning of January 17.

The authors of the study claim that $ 3.6 million in Ethereum, $ 2.4 million in Dentacoin, almost $ 2 million in Oyster Pearl and smaller amounts in other tokens were stolen..

About $ 880,000 have so far been withdrawn to various cryptocurrency exchanges, in including Binance, Huobi and HitBTC, the post said. The remaining $ 15 million is still allocated to two addresses, presumably controlled by attackers.

Analysts estimated the loss of the Cryptopia exchange from a hacker attack at $ 16 million New Zealand cryptocurrency exchange Cryptopia could lose $ 16 million in Ethereum and ERC20 tokens as a result of a hacker attack, analysts at Elementus say.

Analysts estimated the loss of the Cryptopia exchange from a hacker attack at $ 16 million New Zealand cryptocurrency exchange Cryptopia could lose $ 16 million in Ethereum and ERC20 tokens as a result of a hacker attack, analysts at Elementus say.

Analysts also draw attention to the difference between the Cryptopia incident and other known hacks. cryptocurrency exchanges. Usually withdrawals are carried out by exploiting vulnerabilities in the code of smart contracts or a stolen private key and is limited to one wallet. In the same case, the number of hacked addresses goes to tens of thousands, and the problem remained unnoticed for a long time. According to Elementus, the fact that Cryptopia has not taken any action for several days since the onset of the problems may indicate that it has lost access to its own wallets..

On January 17, the CEO of Binance announced that they managed to block funds transferred by an attacker to their platform..


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