ORME Official Statement: Cryptopia Hack and Best Practices
Dear ORME Community,
As many of you know by now, a few days ago Cryptopia was hacked and suffered “significant” losses of over $3.6 million, with more possible. We have taken the past couple of days to gather as much information as possible and reach out to the appropriate parties to help solve this.
We would like to express our sympathy for all ORME supporters that were impacted and announce the following official statement:
1. This was not a hack of ORME or any company systems/assets.
2. No company funds or tokens have been compromised in the hack.
3. An un-confirmed amount of ORME tokens in public circulation were involved in this incident.
4. The company continues to work both with Cryptopia and other leading exchanges to track and recover misappropriated tokens.
5. We urge every ORME token holder to follow the highest level of security when handling their own funds.
What to do if you were hacked:
First and foremost, keep a close eye out on the news. New Zealand police have already launched a full investigation and Binance has reportedly frozen a portion of the stolen funds. Every few hours new updates are being announced. Please find other people that suffered similar losses and try to get in contact with support staff from Cryptopia. We will update the community as we receive news and correspondence on our end.
In the case of recovered funds, there is a good chance that retributions will take place. More exchanges are cooperating during hacks to ensure stolen funds are tracked down. Keep your faith that things will work out favorably.
Proper precautions to avoid hacks:
While established exchanges, like Cryptopia, are considered generally safe, there is always a chance of hack. Always try to keep your cryptocurrency off of exchanges and in cold wallets. Here are a few wallets to look into if of interest. MyEtherWallet is the universal favorite for storing ERC-20 tokens and is generally considered safe and is ORME compatible.
Secondly, enable 2FA using an authenticator app such as Google or Authy. Refrain from using your cell phone number as a backup just in case your phone is compromised.
We understand there are cases where risk is inevitable such as mid-trade or newly purchased tokens. After exiting a position, it is highly advised to move your tokens to a safe place where you are in full control of your keys.
We will make sure to relay any information directly relating to ORME as it is received on both our Telegram channel and social media channels (links below). Also, follow Cryptopia’s official Twitter here.
Thank you for your support!