Police investigate security breach at Christchurch cryptocurrency company

Police were advised late yesterday of an issue involving potential un-authorised transaction activity at Cryptopia. Getty Images/EyeEm

An investigation has been launched into a cryptocurrency trading company after a "significant value" was transferred without authorisation.

Police were advised late yesterday of an issue involving potential unauthorised transaction activity at Cryptopia, based in Christchurch.

A significant value of cryptocurrency may be involved and police are taking this seriously.

"We are currently talking to the company to gain a further understanding of what has occurred," a police spokesman said.

"A dedicated investigation team is being established in Christchurch including specialist police staff with expertise in this area."

pic.twitter.com/0ZwqFfwwHi

— Cryptopia Exchange (@Cryptopia_NZ) January 15, 2019

Police are also liaising with relevant partner agencies in New Zealand and overseas.

The investigation is still in its very early stages.

Cryptopia posted on Twitter to alert users that on January 14 it had "suffered a security breach which resulted in significant losses".

"Once identified by staff, the exchange was put into maintenance while we assessed damages," it wrote.

"Staff then notified and involved the appropriate Government Agencies, including NZ Police and High Tech Crimes Unit who are jointly and actively investigating the matter as a major crime and they are assisting us with advice."

The company said that until this is carried out, the Cryptopia Exchange would remain in maintenance mode, with trading suspended.

"We are committed to getting this resolved as quickly as possible."