Where is my money? Crypto users crypto to claim cryptopia investments

Cryptopia now faces an increasing number of users who are trying hard to recover their investments. According to Radio New Zealand, nearly 40 people have come forward to try to get their money back.

Police in the country has been on the deal since the money was transferred from the exchange to a mysterious wallet. Investors who logged in the next day were greeted with a brief statement that a security breach had occurred.

The authorities stated that the situation as a whole was "complex" and had no time limit on the time taken for the investigation. The hack of the exchange is the first of its kind in this new year.

Rumors that it was an exit scam or some sort of internal job filled the rumors that follow. CryptoGlobe recently covered the fact that some Reddit users keep an eye on their wallet allegedly for moving stolen money.

Concerns abound with cryptopia

The concern of investors about Cryptopia is not limited to the mid-January hack. Radio New Zealand wrote about a lawyer in Christchurch who, last year, was approached by three people who said they could not withdraw funds and that they had problems with portfolio transactions.

According to lawyer Clive Cousins, about forty other people have spoken with him, apparently with the aim of launching a joint trial. He said that a court case was blocked due to the low funds, but that clients still had interest in knowing what was going on.

Josiah Spackman, a cryptocurrency consultant, noted that Cryptopia's focus on lesser-known cryptocurrency has both aided and adversely affected trade. While the focus on crypto-currencies perceived as "levees and arrivals" has contributed to the growth of the exchange, it also meant that fewer people were monitoring transactions on the exchange because the coins were not as popular.

Binance's CEO, Changpeng Zhao, said he would block portfolios containing hack-related funds if they appeared on Binance.

Cryptopia remains relatively calm

Cryptopia's news about piracy and subsequent investigations have been sparse since its inception. the last tweet by the exchange came on January 16th. He shared an official police update on the investigation.

Some Twitter users responded to the comments, thanking the exchange participants for keeping people informed of the survey. Some people asked about updates on withdrawals and filing deadlines. Others have criticized the exchange for its lack of information, especially to those who have not stolen parts.