Bitpoint Suspended All Services in a Hack Attack

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July 11, 2019

Cryptocurrency exchange Bitpoint suspended all services after losing about 3.5 billion yen ($32 million) in a hack that involved Ripple and other cryptocurrencies.

The exchange, which is owned by Remixpoint Inc., said about 2.5 billion yen of stolen funds belonged to customers, while Bitpoint owned the rest. Remixpoint shares plunged 19% to their daily lower limit and were untraded in Tokyo as of 1:44 p.m. on a glut of sell orders.

The funds were stolen from a hot wallet that contained five cryptocurrencies including Bitcoin and Bitcoin Cash. It said it hasn’t discovered any funds missing from cold wallets.

The exchange was among cryptocurrency operators ordered by Japan’s Financial Services Agency to improve internal controls following the 2018 hack of Coincheck.

Source: Bloomberg.com/europe

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