Japan's Leading Bitpoint Exchange Lost Over $32 Mln In Hack - Report.

Japan's Leading Bitpoint Exchange Lost Over $32 Mln In Hack - Report.

2019-07-12 | Selina Mathew

Japan's Leading Bitpoint Exchange Lost Over $32 Mln In Hack - Report.

Renowned Japanese cryptocurrency exchange named Bitpoint has presently suspended all of its services while losing around $32 Mln in a recent hack involving Ripple [XRP], Bitcoin [BTC] along with other cryptocurrencies.

Within an official 'announcement' published earlier on 12th July, Bitpoint  revealed that it had lost over 3.5 Bln yen [about $32 Mln] - 2.5 Bln yen [about $23 Mln] of which belonged to customers along with 1Bln [about $9.2 Mln] belonging to the exchange itself.

Bloomberg 'reports' that shares of Bitpoint’s parent firm Remixpoint Inc. fell by around 19% following the news of the hack, and were untraded within Tokyo as of 1:44 p.m. “on a glut of sell orders.”

Moreover along with Ripple [XRP] and Bitcoin [BTC], 5 other cryptocurrencies had been stored within the affected hot wallets, together with Litecoin [LTC] and Ethereum [ETH].

The exchange’s cold wallets don't seem to be reportedly affected, Bitpoint’s announcement indicates.

Bitpoint was one among the multiple native cryptocurrency exchanges to have been served a business improvement order from Japan’s monetary regulator, the FSA [Financial Service Agency], throughout its 'wide-ranging' inspections of industry businesses, according to Bloomberg.

As reported earlier, the record breaking hack of around $534 Mln of NEM from Japan’s leading 'Coincheck' exchange earlier the month of Jan. last year had been attributed to the actual fact that the coins were kept in an exceeding low-security hot wallet. 

Earlier in 2019, around $40 Mln hack of renowned cryptocurrency exchange 'Binance' also loomed over the businesses - around 8 cryptocurrency exchanges are presently at the target of large-scale 'hacking' incidents within the first half of this year, lastly the Singapore-based 'Bitrue' exchange.

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