Ex-Cryptopia employee confesses to stealing $170,000 in cryptocurrency
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Answer Ex-Cryptopia employee confesses to stealing $170,000 in cryptocurrency
Cryptopia, a New Zealand-based company, was hacked earlier, the details of which we followed in detail in previous articles on Arab Bitcoin.
Recently, a former employee of the company pleaded guilty to stealing more than $170,000 worth of cryptocurrency and customer data, according to to source.
On Monday, the defendant, who has not been named for legal reasons, pleaded guilty to two counts of theft in Christchurch District Court, according to the same source.
Cryptopia was the largest cryptocurrency exchange in New Zealand until it entered bankruptcy in 2019 after a major hack.
$17.85 million worth of cryptocurrency disappeared in the hack, and previous users are still in the process of recovering their stolen funds.
Read:Only 2 out of 10 trading platforms can be trusted according to a new report
The former Cryptopia employee who was detained claimed that he raised concerns with management about the security of private keys for wallets held by Cryptopia.
He reported that he later made copies of the private keys and took them home to put on his computer.
According to the report, the defendant was able to drain funds from Cryptopia wallets.
Which is what the former employee admitted as he was told that it was stolen in September 2020, and after the accounting firm “Grant Thornton” (responsible for overseeing the return of stolen funds to any users from the 2019 hack) noticed that the cryptocurrencies had been lost from the inside, the employee admitted and suggested returning the funds by the time.
The defendant will be sentenced on October 20 next.
At the height of its success, Cryptopia reported 1.4 million users worldwide.
Since the hack in 2019, account holders have been able to get priority over Cryptopia’s creditors to recover lost cryptocurrencies.
It is worth noting that the biggest thief of the platform is still unknown.
Read:KuCoin hacked, $150 million in cryptocurrency withdrawn
Read also:
Cryptopia takes another step towards returning users’ money
The “Cryptopia” platform opens the process of receiving user requests within the framework of the platform’s filtering
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