New Zealand Exchange Cryptopia Lost $16 Million in Hack, Not Initially Reported $2.5 Million: Research

Cryptopia
Cryptopia

By CCN.com: Contrary to prior reports putting the value of cryptocurrency stolen in the Cryptopia exchange hack at around $2.5 million, it has emerged that the true value of assets stolen sums up to about $16 million. According to blockchain analysis platform Elementus, this was ascertained by analysing the Ethereum blockchain using the Elementus query engine.

The $16 million figure only covers ether and ERC-20 tokens, which means that may be a possibility that more funds were compromised in the attack. Elementus also says that the hack makes for uncomfortable analysis from a security point of view because an examination of the way it took place raises several questions.

Startling New Details About Cryptopia Hack

According to Elementus, the attackers moved $16,002,108 worth of Ethereum tokens over the course of five days including $3,570,124 worth of ether, $2,446,212 worth of Dentacoin and $1,148,144 worth of Centrality. The full breakdown can be seen below:

[caption id="attachment_158947" align="alignnone" width="377"]

Source: Elementus[/caption]

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