Cryptopia reveals that funds deposited 24 hours after declaration of breach would not be recovered

The New Zealand-based cryptocurrency exchange, Cryptopia released a statement detailing information regarding the deposits that took place after the hack on 14 January. The exchange, which was attacked twice in January, warned its customers about the breach and put their website under maintenance to avoid any further damage.

The statement said that all customers were notified about the breach on 15 January at 12:00 AM NZT and thus, deposits that took place more than 24 hours after the announcement would not be recovered. Cryptopia stated,

“This means that if you sent funds after 16/01/2019 12:00AM NZT we will not be recovering those funds for you.”

Cryptopia did not set any specific deadline to recover the funds that were sent before the cutoff. However, any deposit they recover would be “subject to the same haircut” that was already applied on their users. The option to deposit funds remains disabled on the exchange and users have been asked to wait until an official announcement is made.

Once the deposits are re-enabled, users can deposits funds after generating a new deposit address for each of their coins. The users were also warned not to use any existing wallets to send funds and instead, were advised to create a new wallet address.

Cryptopia already made a CoinInfo page available to its users, providing them with the option to check the status of their coins after the hack. The exchange previously said that they would be securing 35% of the coins to new wallets and that they would be enabling the option for users to cancel orders.

However, to get back on track, it will have to secure all the listed coins. According to an email shared by the exchange, it is planning to get back into business by the end of March. The statement said,

“We will be emailing you again shortly with more details around the rebates and the projected dates for trading to be active again. Please be aware, we are hoping to achieve this by the end of the month.”

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