Hackers steal $32 million worth of crypto from Bitpoint

Bitcoin BTC

JPY 2.5 billion belong to the customers of the exchange, while the rest were stolen directly from the BITpoint Japan.

Customer funds worth 2.5 billion yen have been stolen by hackers during the attack.

Coincheck's $530 million loss remains the industry's record-breaking crypto-exchange hack, but the $40 million theft in bitcoins from world-leading exchange Binance in May served as a dramatic reminder that even those exchanges with hitherto lofty standards of security remain vulnerable.

As of yet, the company says it is not aware of any funds taken from cold wallets.

Remixpoint said the lost money was in what is called the "hot wallet".

BITPoint Japan handles various virtual currencies, including bitcoin, ethereum and ripple. The agency believed that the cryptocurrency exchange had poor internal controls, and wanted Bitpoint and a few other exchanges to ensure the enforcement of proper measures to protect users.

Once the hack was detected, Bitpoint put web transactions on hold early this morning before stopping all services at 10:30 am.


As of now, it was unclear when the Bitpoint Exchange would resume operations, for now they will remain suspended until further notice.

The exchange operator received an improvement order from the Financial Services Agency in June 2018.

Just last month two exchanges were hacked.

Another cryptocurrency exchange in Japan has been hit by a major theft. Losses amount to $32 million in cryptocurrencies.

The incident follows the theft of 6.7 billion yen from the Zaif exchange, operated by Tech Bureau Corp., in September 2018.

Earlier previous year, Coincheck was also breached, resulting in more than $520 million worth of cryptocurrencies being stolen.

Related:

Comments

Latest news

Mueller’s congressional testimony could be postponed a week
The Judiciary Committee also sought to interview former Mueller aides Aaron Zebley and James Quarles behind closed doors. The hearing set for July 24 has been lengthened to three hours.

Manchester United tell Inter Milan what they'll accept for Romelu Lukaku
Pogba has had a rocky relationship with Manchester United manager Ole Gunnar Solskjaer and with many United fans this past season. The Belgian is now on tour with Solskjaer's squad in Australia and United are set to face Inter in Shanghai on July 20.

Green on Kawhi: 'He gave me no updates'
As Ryan Ward of Clutch Points revealed, Cousins called the roster "incredible" and said they have "a lot of talented beasts". Now that they are both with the Lakers, Cousins admitted he and Davis talked about reuniting "numerous times ".

Japan's Hayabusa2 probe makes 'perfect' touchdown on asteroid
It is believed that the subsurface materials of the asteroid are less weathered by cosmic radiation than rocks on the surface. It is the second touchdown for the robotic Hayabusa-2 craft, which grabbed rocks from the asteroid in February.

Ohio Democrats look ahead to Mueller testimony
Last month, Democrats voted to allow committees to file lawsuits against those who defy congressional subpoenas. Mueller III in his investigation into Russian interference in the 2016 US presidential election.

Other news