Canada's Newton crypto exchange hacked? Find out more here

Follow us on Google News:
 Canada's Newton crypto exchange hacked? Find out more here
Image source: © Alexandersikov |


  • Newton is believed to be a reputable and low-cost crypto trading platform in Canada.
  • On May 30, some users feared that Newton, a crypto exchange in Canada, got hacked.
  • Newton crypto exchange posted that some users got a deposit notification due to a glitch on its official account.

In Canada, crypto investors stay alert as QuadrigaCX, probably the largest cryptocurrency exchange in the country, halted operations in 2019.

QuadrigaCX was a subsidiary of Quadriga Fintech Solutions, which filed for bankruptcy with liabilities of C$ 215.7 million and assets of C$28 million.

Also Read: What is LockPay and is it a pump and dump scheme?

Gerald William Cotten, the company's CEO and founder, died in India in 2018. Because only Cotten had the password to off-line cold wallets, around C$ 250 million in cryptocurrency owing to 115,000 customers were gone or could not be accessed.

On May 30, some users feared that Newton, another crypto exchange in Canada, got hacked. Here's why the hacking fear sent investors into a panic mode:

Canada's Newton hacked?

Newton is believed to be a reputable and low-cost crypto trading platform in Canada. The crypto platform allows its users to buy and sell virtual currency on any device, with access to some of the best cryptocurrency values in Canada.

As per the official website, it only takes a few minutes to set up and fund your account. Also, users can transfer their funds or leave them with Newton when they're ready. It's entirely up to them.

On Monday, some users complained that they were facing login issues, and some received deposit notifications. Due to this reason, rumours surfaced online that the Newton crypto exchange got hacked.

Addressing the users, Newton crypto exchange's chief executive officer (CEO) Dustin Walper took to Twitter and said they were investigating the issue to fix it.

Later, Newton crypto exchange posted on its official account that some users got a deposit notification due to a glitch related to a new deployment, and the team was rolling it back. Meanwhile, temporary login issues were resolved too.

Newton crypto exchange

Bottom line

It appears that the Newton crypto exchange was not hacked, and it was a technical glitch, as per the official statement. The cryptocurrency market is going through turbulent times, and people remain alert and cautious due to increased volatility and the potential threat of a crypto scam.

Since May 30, the crypto market has been recovering slowly, and at the time of writing, the global crypto market cap had increased to US$ 1.31 trillion.

Also Read: What is AgeOfGods (AOG) crypto and why its volume soared 1200%?

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK