Cryptopia Remains Offline Despite New Zealand Police Saying It’s “Open” To Resume Trading

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New Zealand Police have announced that hacked crypto exchange Cryptopia is ready to relaunch its operations, according to a report in The New Zealand Herald published on February 13.

The Auckland-based news outlet quotes detective inspector Greg Murton as saying that police investigators from the High Tech Crime Group had completed its work at Cryptopia’s headquarters in Christchurch.

As such, the detective claimed, the management team at Cryptopia had been granted full access to the exchange’s facilities and business premises.

According to the police inspector, Cryptopia is free to resume its operations. The news agency, however, states that the Murton declined to detail their next cause of action, specifically whether the police were looking to press charges.

The officer did not also comment on the total value of the stolen cryptocurrencies, although the exchange had reported suffering significant losses following the January 14 security breach.

Although New Zealand police have indicated that Cryptopia is free to “open again,” the exchange’s website is still offline, only displaying the “important announcement” message addressed to its users.

The platform also cites the release of a report by the police, which the company said involved the investigation set up after the hacking.

Cryptopia founders have not responded to queries concerning when or if they intend to resume operation, the New Zealand Herald reported. Notably, the silence extends to the company’s social media accounts, with the official Twitter account last used on January 27.

The attack and theft of crypto at the exchange began a month ago today (January 14), with initial reports showing that thousands of ethereum (ETH) had been stolen.

Estimates put the value of the stolen crypto at $16.1 million, although speculation puts that figure closer to $23 million after attackers allegedly continued to steal from multiple ETH wallets.

Although the site went offline that same day, reports later emerged that the attackers had continued to steal funds from the exchange for another two weeks.

An initial report by the New Zealand police on February 7 stated that investigators had made tremendous progress. However, they noted that the whole investigation would take some time before it is completed “due to the complexity of the cyber environment.”

Earlier this month, blockchain analytics firm Elementus revealed that hackers used major exchanges like Binance, Etherdelta, and Bitbox to liquidate about $3.2 million worth of crypto stolen from Cryptopia.

The firm also noted that in the two weeks following the breach, over 17,000 wallets were emptied of some $180k.


Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.

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