Cryptopia (C网) is a powerful cryptocurrency trading platform. Cryptopias marketplace allows you to sell anything to anyone worldwide in exchange for cryptocurrency. C网 is a small exchange based in New Zealand with an average daily trading volume of around $3 million. It supports over 500 cryptocurrencies and makes it easy to list new coins. You simply pay (in BTC) and vote. While most coins have very low trading volumes, this exchange is popular with arbitrage traders.
Cryptopia (C网) Exchange Theft and Bankruptcy
On January 14, 2019, Cryptopia, the New Zealand-based exchange, tweeted that it had been hacked. According to an analysis by blockchain infrastructure company Elementus on January 20, the Cryptopia hack, which occurred on January 4, may have resulted in losses of up to $16 million in ETH and ERC20 tokens.
On February 7, according to a report by blockchain data company Elementus, $3.2 million worth of cryptocurrency stolen during the Cryptopia exchange hack had already been liquidated by hackers through various cryptocurrency exchanges.
On February 27, Cryptopia, the previously hacked cryptocurrency exchange, tweeted an update on the investigation, stating: "We are continuing to assess the impact of the January hacking incident. Currently, the worst-case scenario is that 9.4% of total assets were stolen."
On March 4, Cryptopia said it planned to reopen the website, but it was delayed due to various issues.
On March 5, Cryptopia, the New Zealand-based exchange, tweeted: "The read-only website will launch today. The website will display your account balance as of January 14."
On March 19, Cryptopia, the New Zealand-based exchange, tweeted that the platform had restored trading for 40 trading pairs and was working to expand the recovery scope.
On May 14, it was reported that Cryptopia had been down for over 48 hours. The platforms social media channels, Twitter and Discord, had no related notifications. It appears that the outage may be related to its liquidation proceedings.
On May 26, Cryptopia, the New Zealand-based exchange, filed for bankruptcy protection in the United States.
