Hackers steal $32 million worth of crypto from Bitpoint

Bitpoint Japan Hack $32 million

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.



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