Cryptopia compromised by another attack, $180,000 worth of ETH stolen

29 Jan, 2019 | Updated: 29 Jan, 2019
by Richard Allen
Breaking News
Cryptopia compromised by another attack, $180,000 worth of ETH stolen

The trouble doesn’t seem to stop for New Zealand cryptocurrency exchange Cryptopia as a report by Elementus states that over 17,000 wallets were drained of their funds yesterday, January 28, 2019.

Blockchain analysis company Elementus released a report today that reveals the exchange lost a further 1,675 ETH, almost $180,000 in the latest attack. The report states that 5,240 wallets were affected during the previous attack were targeted again by the hackers. The users were reportedly “unaware of the breach” as funds had been topped up.

The attack began at 6:58 AM on January 28 and continued throughout the day, with the funds being sent to this Ethereum address: 0x3b46c790ff408e987928169bd1904b6d71c00305.

“Initially it wasn't clear whether this might be Cryptopia securing their remaining funds. But by 9:50pm this evening, we got our confirmation that this was indeed the same thief. At that time, the incoming transfers stopped and the combined funds were moved into the address below, the same wallet that currently stores the other stolen Cryptopia funds,” the report states.

Elementus has concluded that, as per their earlier hypothesis, Cryptopia no longer has the private keys to the Ethereum wallets and the hacker does. They also state that users on the exchange continue to deposit funds into their Ethereum wallets, despite the hack.

This hack pales in comparison with the size of the one that the exchange suffered just a few weeks ago, although it does suggest that important guidance about security may not have been followed, and it may do irreparable damage to Cryptopia's reputation.

Around $16 million was stolen from Cryptopia over the course of 4 days, starting on January 13. The theft continued even after the exchange spotted it and a police investigation was launched, on January 15. Data company Elementus' recent analysis of this hack did suggest that a further $46,000 may have still been at risk.

Read more: Cryptopia hack continued even during police investigation- users want a lawsuit; Security expert: nearly $2.5 million stolen from exchanges daily

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