Cryptopia Sheds Light on the Amount of Funds Stolen by Hackers
- More than six weeks have passed since the Christchurch-based exchange was hacked, with plenty of speculation about the severity of the situation.
- Elementus estimated that the stolen cryptocurrencies were worth around $16,000,000, less than 20% of which was in Ethereum.
More than six weeks have passed since the Christchurch-based exchange was hacked, with plenty of speculation about the severity of the situation.
Subsequently, more information about the event began to reach the surface. Analytics and compliance company Elementus estimated that the stolen cryptocurrencies were worth around $16,000,000, less than 20% of which was in Ethereum. Seeing a number of tokens and coins in a situation where a significant portion of their market cap was in possession of hackers expectedly led to price crashes, Dentacoin being particularly affected.
The report also marked the beginning of speculation regarding the ability of the exchange to recover from the loss of funds and continue operating.
Month and a half after the event, Cryptopia have taken to Twitter to further shed some light on the situation. As can be seen by the message, the worst case scenario, judging by their calculations, is that 9.4% of the total funds held by the exchange have been stolen.
In addition, the exchange has reassured its customers that the rest of the funds are being moved to individually secured wallets, and announced that a read-only version of the exchange should be live by Monday.
And while the much-needed transparency was certainly welcomed by many in the community, investors’ trust might prove difficult to reclaim.
- Popular Telegram bot Unibot, which is used to snipe trades on Uniswap, became a victim of a token approval exploit earlier today, when it was switching to a new router.
- After confirming the exploit, Unibot assured users that their keys and wallets were safe, and that the project will compensate all affected users.
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- DeFi protocol Balancer confirmed it was exploited almost a week after disclosing a critical vulnerability affecting several of its boosted pools.
- The platform did its best to mitigate some of the risks but was unable to pause the affected pools, and an estimated $980,000 in DAI were stolen in an attack.
- A cyber security incident at bankruptcy service provider Kroll has resulted in the exposure of “non-sensitive” customer data for claimants involved in the FTX and BlockFi cases.
- Both companies confirmed that account passwords, systems, and funds remained safe, but warned customers to be on the lookout for phishing scams.