Cryptopia Hacker Steals Another $175,000 From 17,000 Users

The hacker that managed to steal $16 million-worth of ethereum from Cryptopia two weeks ago is at it again. According to a post published on the Elementus blog this Wednesday, the New Zealand-based cryptocurrency has lost control of its clients' Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term wallets.

Apparently, the hacker managed to siphon off another 1,675 ether tokens, worth approximately $175,000, from 17,000 accounts on the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term.

And, according to Elementus, 5,000 of the users' affected by the hack were part of the contingent of traders who had been stolen from in the original attack.

That means that many users seem unaware that the attack had even happened as they had topped up their accounts with more ethereum.

Some users may simply be unaware of the fact that Cryptopia has been hacked. Alternatively, they may be receiving funds from mining pools which are automatically depositing funds into their Cryptopia wallet.

No comment from Cryptopia

Though it did address the fact that it had been hacked two weeks ago, Cryptopia has yet to make any comment regarding the allegations made on Wednesday.

[embed]https://twitter.com/Cryptopia_NZ/status/1089705760274079744[/embed]

More worrying is the fact that the exchange is supposed to be on lock-down. The exchange's website is not operational and, on its Twitter account, the firm said that it is currently undergoing maintenance as the police investigate the prior hack.

The fact that the hacker was still able to continue his attack, after more than two weeks, would seem to indicate that Cryptopia has lost total control of its clients' ethereum wallets.

Elementus employees were able to trace the public key of the hacker and identify the wallets to which they sent the stolen cash. Unfortunately, that likely won't be of much help to police or anyone else investigating the crime.

Unless the hacker made some sort of bizarre slip-up that would enable authorities to match their public key to a real-life persona, nothing can really be done to retrieve the stolen funds.