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Crypto Exchange Bitpoint Retrieved $2.3Mln of $32Mln from Crypto Hack

By Tracy Hannes | July 15, 2019
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Crypto Exchange Bitpoint Retrieved $2.3Mln of $32Mln from Crypto Hack

Bitpoint – a Japan-based crypto exchange platform – has recently come across over 250 million yen ($2.3 million) worth of digital coins – a small sum of the $32 million financial damage lost in a hack last week.

Reported by the The Mainichi on July 14, Bitpoint has accidentally discovered the stolen fracture of the fund on foreign exchanges, ones that are currently utilizing Bitpoint Japan-made trading system. According to Bitpoint, by being able to find a part of the missing money, the total worth of financial damage has slightly declined, going down from 3.5 billion yen ($32 million) to 3.02 billion yen ($28 million).

Bitpoint has previously undergone a cyber attack on July 12. Of the total hacked money, around 2.5 billion yen ($23 million) belonged to the clients of the exchange, and the remaining 1 billion ($9.2 million) was Bitpoint assets. The stolen funds are in the following currencies: Bitcoin (BTC), Litecoin (LTC), Ether (ETH) and XRP, which have been taken from Bitpoint’s hot storage.

Bitpoint has stopped providing its services after the hack occurred, while Remixpoint Inc. – the holding company of the Bitpoint exchange – has got rid of 19% after the hack. Due to an excessive abundance of sell order, Remixpoint has been untraded in Tokyo after the attack.

The Bitpoint hack was not the first major crypto attack in Japan, as in January 2018, hackers have stolen $534 million of NEM tokens from Coincheck’s wallets, breaking the record for stolen funds in a hack in Japan.

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