Binance to Help Hacked Exchange Cryptopia, Freezes Stolen Coins

On Monday, Cryptopia announced that it had been hacked and lost cryptocurrency worth $3.6 million from its wallets. The attackers wanted to sell some of these coins at Binance, but the exchange reacted in time and froze the money.

At the beginning of the week, Cryptopia, a New Zealand cryptocurrency exchange, announced that hacker found a breach in its security system and steal customers' money. The malefactors withdraw $2.4 million in Ethereum tokens and $1.2 million of Centrality cryptocurrency. Cryptopia decided to shut down all trades due to hacking, and turned to the authorities of New Zealand for help.

Cryptopia has not yet revealed who is behind the hack. But some users noticed that a part of the stolen cryptocurrency turned out to be on the Binance crypto exchange.

According to Changpeng Zhao, the CEO of Binance, the trading platform froze the money. Zhao also said he did not understand why the hackers decided to transfer the coins to Binance, because the media almost immediately exposed such a move, and the exchange reacted in time. “It’s a high-risk maneuver for them”, the CEO said.

  • According to the CoinGecko annual report, last year hackers managed to steal $867 million worth of cryptocurrencies. This is 50% more than in all the years of existence of coins combined.
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