Earlier in January, popular crypto exchange, Cryptopia experienced a security breach which led to the loss of about $16 million worth of digital assets.

The hack was reported to the New Zealand police and investigations have been ongoing with regards to how the breach occurred and where the funds have been sent to. The exchange which has refused to comment on the issue in the last one month (citing the fact that the appropriate authorities are handling the matter) have hinted that they will be re-opened on Monday. A tweet on Cryptopia’s official handle reads:

We are aiming to have the Cryptopia site re-opened as read-only by Monday.

The exchange revealed in a series of tweets that the New Zealand police have given them access to their building and that the extent of the damage has been evaluated. According to them, under a tenth of their total holdings was stolen.

We are continuing to work on assessing the impact incurred as a result of the hack in January. Currently, we have calculated that worst case 9.4% of our total holdings was stolen, another tweet reads.

As a preventive measure, users have been advised to refrain making deposits into old addresses once the site is re-opened.

Finally, on the recent update from Cryptopia, the team revealed that its two founders will be returning to the company “to set a clear strategic direction moving forward.