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Japanese Crypto Exchange Bitpoint Suffers $32 Million Hack

The Japanese encryption exchange Bitpoint has suspended all services after losing $ 32 million in a hack involving XRP, Bitcoin (BTC) and other cryptocurrencies.

In an official announcement on July 12, Bitpoint revealed that it had lost about 3.5 trillion yen (~ $ 32 million), of which 2.5 trillion yen (~ $ 23 million) belonged to customers and 1 trillion yen (~ $ 9.2). millions) for the exchange.

Bloomberg reports that the shares of Bitpoint's parent company, Remixpoint Inc., lost 19% after news of the incident, and that they were not traded in Tokyo at 1:44 p.m. "In an excess of sales orders".

Along with XRP and Bitcoin, a total of five different cryptocurrencies were stored in the affected hot portfolios, including Litecoin (LTC) and Ether (ETH).

The Bitpoint report indicates that the cold portfolios of the stock market are not believed to be compromised.

Bitpoint was one of the many national cryptographic exchanges that received a commercial improvement order from Japan's financial regulator, the Financial Services Agency (FSA), during its extensive business industry inspections, by Bloomberg.

As previously reported, the historical trick that broke the $ 534 million NEM record of Japan's Coincheck exchange in January 2018 had been attributed to the fact that the coins were stored in a low-security hot wallet.

In 2019, the $ 40 million May trick of the main Binance crypto exchange has become very important in the industry: at least eight crypto exchanges have been the target of large-scale piracy incidents in the first half of this year, most recently at Bitrue, based in Singapore.

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