Cryptopia faces ‘slight delay’ in relaunching site following January’s hack

Hacked cryptocurrency exchange Cryptopia has delayed the relaunch of its site until Tuesday, citing a "slight delay"

New Zealand-based cryptocurrency exchange Cryptopia is facing a fresh delay in relaunching its site, which was originally scheduled for Monday March 4th.

As reported by Coin Rivet in January, more than $11 million was stolen from the exchange after hackers gained access to the company’s hot wallets.

Local law enforcement claimed to have been making “excellent progress” on the investigation to find the hackers in February, although they did admit that it may take time due to the “complexity” of blockchain transactions.

On February 28th, Cryptopia issued an update stating: “We are aiming to have the Cryptopia site reopened as read-only by Monday.”

But the relaunch has now been pushed back to Tuesday, with the site admitting to a “slight delay” despite having already transitioned “24% of all wallets to the new servers.”

The site has also welcomed the return of co-founders Adam Clark and Rob Dawson, both of whom are “focused on setting a clear strategic direction moving forward.”

To Cryptopia’s credit, the exchange has been completely transparent following January’s hack. Last week, it admitted that 9.4% of its total holdings was stolen.

The exchange’s openness in responding to the hack highlights the lack of clarity coming out of the QuadrigaCX situation, where many users are still being left in the dark following the sudden death of the company’s CEO, who is alleged to be the only person with access to the company’s wallets.

Both cases demonstrate the importance of users holding their own private keys. If every cryptocurrency trader and investor had full control of their assets, no funds would have been stolen.

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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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