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After weeks of calmness, Cryptopia is the latest exchange to be ransacked by hackers. Unconfirmed reports indicate that $2.5 million of ETHs may have been lost. Meanwhile, Bitcoin is technically bullish in lower time frames. However, gains above $4,500 would officially usher in bulls.<\/i><\/p>\nBitcoin Price Analysis<\/h2>\n
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After five years of successfully protecting user funds, hackers got the best of Cryptopia. Although figures are yet to be confirmed, hackers were said to have moved $2.5 million worth of ETHs just hours before the exchange switched off, locking user funds. Even still, we cannot take anything from Cryptopia<\/a>. As one of the many small crypto exchanges trying to make end meets, some are alleging that the “hack” may be an exit scam of some sorts. According to a Whale Panda, the exchange was famous at some point but had gradually degenerated, becoming irrelevant with fake trading volumes.<\/p>\n It works like this: — WhalePanda (@WhalePanda) January 15, 2019<\/a><\/p><\/blockquote>\n\n
They create a bunch of fake volume on their exchange so they're high up on coinmarketcap, then they dm everyone involved with a project that they want to add your project to their super successful exchange but of course there are "implementation fees".<\/p>\n