Crypto Exchange Cryptopia Is Back Online, User Balances Reinstated March 6, 2019 March 6, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsMarch 6, 2019 by Kelly Cromley

Crypto Exchange Cryptopia Is Back Online, User Balances Reinstated

Cryptocurrency exchange Cryptopia, which was hacked recently, has recovered from the unexpected hit to come back online. The official website of the cryptocurrency exchange is active, but only in a read only format. A tweet by the crytptoexchange indicates that it has reinstated the account balances of clients in its pre-hacked state.

Last week, the cryptocurrency exchange gave March 4 as the launch date, but was delayed by a day. Through a series of tweets, Cryptopia has confirmed that it will reinstate clients balances held on January 14 for calculation of rebates.

The cryptocurrency exchange reported that they are working out a rebate process for affected clients and details will be provided soon. As of date, the exchange has suggested clients to reset their passwords and data related to two-factor authentication.

The exchange suffered a $16 million hack back in January 2019. The company remained in maintenance phase even after investigations were completed and officially informed by New Zealand Police on February 13. Cryptopia has responded to the news by saying that the exchange took time to assess overall losses and ensuring that there is no risk to client’s balances.

After the hacking incident was identified in the middle of January, more evidence of hackers moving crypto out of the exchange came up two weeks later.

Similar to Cryptopia hack, on March 3, Ryo (RYO), a crypto venture based on Monero (XMR), published a post saying that vulnerability in Monero wallet software allows making fake deposits to cryptocurrency exchanges. The vulnerability, which is expected to get patched in an upcoming release, allows hackers to make dubious deposit of any amount of XMR to a cryptocurrency exchange.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.