Cryptopia Gets robbed: Customers Lose their Cryptocurrency.
I read a good post by @heiditravels about the Cryptopia centralized exchange being hacked. It appears the hackers got into the Cryptopia computer server where all their client private keys were stored. The hackers have changed the passwords and essentially locked Cryptopia staff out of their own computer server. Now they are using these private keys to steal the Ethereum belonging to the Cryptopia Exchange customers who stored their Ethereum on the Cryptopia Exchange thinking it would be safe there. So far it’s estimated that the hackers have stolen 16 million dollars US of Etherium.
I think it’s important to mention that if those customers stored their Ethereum in their own wallet they wouldn’t have lost their cryptocurrency in this break in. If you didn’t understand the importance of Proof of Keys before I am sure you understand now.
Centralized exchanges are a huge target for hackers because of the large deposits of cryptocurrency there and the private keys which allow you to transfer out the cryptocurrency.
You can read more of the very sad details here: https://steemit.com/bitcoin/@heiditravels/cryptopia-is-dying-fidelity-new-btc-gateway
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Good explanation of what happened and how we can prevent it from happening again. Good post. Thanks
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Let's hope this never happens to a big exchange like Binance or Coinbase. That would have a price impact on the whole crypto market!
I agree that it would be very sad and bad for crypto
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Good helpful knowledge information sir thanks for sharing.
Great job.🙋
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It is sad news, but I hope that this news will help someone protect their cryptocurrency.
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crypto will always be the best now
Yes
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Really sad news. Hopefully there is a solution.
It is sad news, but I hope that this news will help someone protect their cryptocurrency.
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thanks for the PSA, in my opinion anyone who doesn't keep their currency in cold storage wallets is not the smartest cookie ;)
It is sad news, but I hope that this news will help someone protect their cryptocurrency.
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I belive in this thing centralized exchage is not safe you can just keep money on this platform until you want to trade.
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It is sad news, but I hope that this news will help someone protect their cryptocurrency.
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Yeah that is for sure. It will help someone.
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It is really a bad news and in one of them who have funds on cryptopia and got hacked 😫😫😫😫😫
What a tragedy news again in the world of cryptocurrency
Too sad to know about it and I hope cryptopia will sort it out and resolve the issue.
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