Binance freezes funds stolen in Cryptopia hack

Changpeng Zhao, the CEO of Binance, has confirmed that the exchange has been able to freeze some of the funds stolen in the Cryptopia hack calling the movement of crypto to Binance a “high risk” maneuver.

As covered by CNR earlier, beginning in the early hours of this morning  large amounts of crypto, allegedly funds stolen in the Cryptopia hack, were consolidated and then redistributed out through Binance and other exchanges.

Cryptopia is a leading digital asset exchange in New Zealand with over two million users. On Monday it announced that it had “suffered a security breach which resulted in significant losses.”

The exchange is remains offline, with a notice on its website that it is cooperating with “appropriate government agencies, including the NZ Police and High Tech Crimes Unit.”