Police has eyes on stolen Cryptopia funds, will leave office February 15

07 Feb, 2019 | Updated: 07 Feb, 2019
by Jelmer van der Dussen
Breaking News
Police has eyes on stolen Cryptopia funds, will leave office February 15

In a statement released on Thursday, the New Zealand police has stated that the investigation into the Cryptopia hack 'is progressing well and advancing on several fronts'.

It is not yet clear when the Cryptopia exchange will be able to reopen, but the police says that they expect to finish their investigation at the Cryptopia headquarters on Friday February 15. This doesn't mean the exchange will open on that day. 'This investigation is expected to take a considerable amount of time to resolve due to the complexity of the cyber environment', the police states.

Read more: The Cryptopia Hack Timeline: as it happened

Cryptopia's managers are on site at their offices of the exchange in Christchurch.

The police is focusing on identifying who stole the $16 million worth of cryptocurrency during the hack in January. The first hack took place mid-January and a second hack followed on January 28, with $180,000 worth of cryptocurrency drained from user wallets while the police was investigating.

Read more: 4 cryptocurrency exchanges closed in 2019: what happened?

The police and specialists are 'actively tracking' the stolen cryptocurrency on the blockchain. Although this is a 'complex investigation', there is 'excellent progress being made in the investigation and we are working with Cryptopia management plus current and former employees who have been providing valuable assistance.'

Earlier this week, an expert in corporate law stated in a New Zealand newspaper that 'no one at the NZ police seems to have a clue what's going on'

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