On January 14, 2019, Cryptopia's hot wallet private keys were compromised, enabling theft of approximately 10 percent of platform holdings in ERC-20 tokens across 17,000 customer accounts.

From January 13th to 14th, a huge amount of unauthorized cryptocurrency transfer occurred in Cryptopia, which was suspected of being stolen. On January 15, the exchange posted a tweet claiming that it was hacked and 28,773 ETH was stolen. After that, on January 30th, the exchange experienced another security breach, stolen 1,675 ETH. On May 15, Cryptopia announced that it would enter the liquidation process.