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Cryptopia Exchange, Currently in Liquidation, Gets Hacked Again: Report

The hacked wallet belonged to a creditor, U.S. firm Stakenet, which had not lost funds in the 2019 hack, as reported by Stuff.

Updated Sep 14, 2021, 12:14 p.m. Published Feb 20, 2021, 9:19 a.m.
Cryptopia

The Cryptopia exchange has reportedly been hacked again, even as it is being liquidated following a previous breach that stole NZ$24 million (US$15.5 million).

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  • According to a Stuff report Thursday, a creditor, U.S. firm Stakenet, has been told that about NZ$62,000 (US$45,000) in the XSN cryptocurrency had been transferred out of its cold wallet on Feb. 1.
  • Unused since the first Cryptopia hack in January 2019, the wallet is reported to contain crypto assets worth NZ$2.7 million (US$1.97 million) in total.
  • Liquidator Grant Thornton New Zealand said it hadn't authorized the movement of funds and that it is investigating the incident, according to an email seen by Stuff.
  • Stakenet had not lost funds in the 2019 hack and had been hoping to eventually receive all its assets back.
  • “If this unauthorized transaction has happened under Grant Thornton’s watch then they need to explain to the users why they failed to secure ... [the] assets like they were supposed to do and how someone was able to access them,” the company told Stuff.
  • The news comes soon after Grant Thornton finally started allowing former users of the exchange to enter claims to retrieve their assets.

See also: Cryptopia Users Can Claim Assets From End of 2020, Says Hacked Exchange’s Liquidator

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KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market

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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.

What to know:

  • KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
  • This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
  • Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
  • Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
  • Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.

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Ukraine banned Polymarket and there’s no legal way for it to come back

Kyiv in Ukraine (Glib Albovsky/Unsplash/Modified by CoinDesk)

Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.

What to know:

  • Ukraine has no legal framework for Web3 prediction markets, and current legislation provides no recognition for such platforms.
  • Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
  • Legal changes are unlikely in the near future, as Parliamentary revisions to gambling definitions are extremely improbable during wartime, leaving prediction markets in a legal deadlock.