New Zealand Authorities Make Progress Investigating Cryptopia Hack

New Zealand Police continue to excellently investigate the Cryptopia hack that took place on Monday, January 24, 2019. Via an official press release, the Police revealed on Feb 7, that the probe is progressing on well. Cryptopia is a cryptoasset exchange that is based in New Zealand.

The exchange also saw more than $180,000 worth of Ethereum (ETH) stolen in a second hack that happened 15 days after the first hack, as Coinidol reported.   

Malevolent hackers managed to successfully access Cryptopia’s hot wallets before snatching out over $11 million worth of digital currency.   

After the first hack, over 40 users demanded reimbursement from the hacked Cryptopia and the matter was handled by the relevant authorities in the country.   

Will the investigations Yield Anything Big?   

The New Zealand police media centre declared last month that several investigations into the matter were underway as far as the hack is concerned, Canterbury CIB and expert staff from the police High Tech Crime Unit were delegated to the case.   

   

Currently, an international effort is being applied and coordinated such that the criminals can be arrested and the money tracked down.   

Detective Inspector Greg Murton said that:   

“The stolen crypto is being actively tracked by Police and specialists worldwide due to the nature of the crypto blockchains being publicly available.”   

   

Although excellent progress is being achieved, the police revealed that it will again take a significant amount of time before the matter comes to an end, referencing the “complexity of the cyber environment.”   

The victims of the Cryptopia hack are waiting to see what the authorities will bring out of the investigations. It's only time that will tell.