Popular cryptocurrency exchange Cryptopia has experienced a security breach. The exchange disclosed this development to their customers via Twitter yesterday, January 14. What started as an unscheduled maintenance since January 13 has metamorphosed into a major attack on the exchange. Cryptopia’s team in an earlier tweet on the 13th noted that:

We are currently experiencing unscheduled maintenance, we are working to resume services as soon as possible. We will keep you updated.

Several hours later, they tweeted that maintenance was still ongoing:

Update: We are still experiencing unscheduled maintenance. Our team is working hard to resolve this and we will provide an update soon.

Sadly, about 13 hours later after their last tweet, they revealed that there has been a security breach and that the losses were quite significant. The exact figures of what has been lost are yet to be revealed.

Tweet from Cryptopia

In order to mitigate the effects of the breach and possibly get to the root of the issue, the exchange has been put on maintenance mode and trading has been suspended. Cryptopia’s team will also be working with the appropriate government agencies, including NZ Police and High-Tech Crimes Unit to investigate the matter.

Cryptopia has over 800 active markets and is a popular masternode exchange. Whether the exchange resumes trading operations sooner or later is dependent on the extent of the damage and the outcome of investigations.