Japanese Crypto Exchange, BitPoint Hit By A $32Million Hack!

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BitPoint, a tiny regulated exchange from Japan has just experienced one of the common things in cryptoverse, hacking.

Japanese Crypto Exchange, BitPoint Hit By A $32Million Hack!

BitPoint Hacked
BitPoint Hacked

The company, “The Company has identified an unauthorized outflow of virtual currency at a virtual currency exchange. At the same time, we have completely stopped services, including the opening of new accounts, and are working hard to find out the cause, identify the outflow, and minimize damage.

The sum of $32million, where $23million of that belonged to customer(s) funds and the rest of exchange’s got stolen in a hot wallet hack by unknown on Thursday night.

The timeline as follows:

11th July,

  • 10.21PM: Problem discovery

12th July,

  • 2 AM: Realization of Cryptocurrencies affected
  • 6.30AM: Halting the payments

After understanding the complete situation, it further announced a second statement as, “Today, we have stopped the remittance (sending) and receiving (depositing) services from 6:30, but we will stop all services including transactions and sending and receiving from around 10:30. We apologize for the great inconvenience to our customers, but we appreciate your understanding and cooperation. The official service resumption date will be announced separately on our website. We will post information on our website from time to time on the website, so it is hoped that customers will carefully check the announcement from us.

In an assuring statement, the company said, “To prevent any harm to customer assets, we will handle this responsibly, for example in terms of compensation from Bitpoint.

Well, this was the third crypto exchange to be hacked from Japan. Zaif and Coincheck have experienced some big hacks in the past.

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