by on February 26, 2019

The image from Feb. 24, 2019 below reads.

While the NZ Police can state that they have handed our building back to us and that they are placing no constraints on the company resuming trading, there are a number of things that the company must consider first before any trading could recommence.  It is important to consider the timeline of this event: Firstly, the crime/hack/breach was identified on the evening of 14 January 2019. The company staff that identified the event immediately froze the exchange and locked down the platform; they then notified the NZ government authorities, first the NZ Police High Tech Crime Group and second, the National Cyber Security Centre (NCSC, a division of the Govt Communications Security Bureau or GCSB), third, the NZ Financial Management Authority.

Members of the NCSC flew from Wellington first thing the next morning and were in the Cryptopia office conducting interviews and gathering evidence by 08:30am NZST. The NZ Police High Tech Crimes Group, also from Wellington were in the Cryptopia office from noon on the same day and issued search and seizure warrants effectively taking control of the building and all of the systems.

In cooperation with NZ Police and NCSC they identified key specialist staff who were tasked with working with the investigators to clone systems to preserve forensic evidence for investigation. This took 3.5 weeks to complete and our specialist staff have now turned to carrying out the work that is necessary to ensure that assets are retained in a secure environment.

While the Police statement that they are no longer constraining our return to operations and trading, it would be extremely reckless for us to do this until we can fully identify the losses and ensure that the balance is absolutely secure. NZ legislation makes it a serious crime for a company or a director of a company to allow that company to trade recklessly thereby placing creditors assets and property at further risk. That work is now underway.

You can also check the latest realtime updates here: Cryptopia Updates 

Posted in: Business, Crypto
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