Police working with digital forensic experts on Crypto Hack

Police are drawing on international expertise as they investigate the theft of several million dollars-worth of funds from Christchurch-based cryptocurrency exchange Cryptopia last week.

Those international contacts include members of the cryptocurrency trading community, Police said in a statement updating progress to date.

“This is a very complex investigation, involving expert digital forensic investigators from within New Zealand and in various overseas jurisdictions, as well as overseas authorities.

“Members of the investigation team met with Cryptopia management and staff yesterday and today and outlined progress in the investigation.”

At least $3.5 million-worth of the funds hacked on the night of January 13-14 are visible in one digital wallet. However social media reports quoting a cryptocurrency expert have suggested the total amount hacked could be greater - possibly more than $20 million.

Meanwhile, some money sent from the visible wallet to the giant international cryptocurrency exchange Binance has been frozen by that exchange.

Police say Cryptopia management and staff have been cooperating and have provided considerable assistance in the investigation.

“The investigation is expected to take some to time complete, and the digital forensic team will be on-site at Cryptopia’s premises for some days to come,” the statement said.

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