Hackers Steal $32 Million From Japan's Bitpoint Exchange

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Japanese cryptocurrency exchange Bitpoint suspended operations after falling a victim of a massive hack attach that cost it about 3.5 billion yen ($32 million).

The customers have lost approximately 2.5 billion yen ($23 million) and the exchange 1 billion ($9.2 million).

BITPoint Japan Co. said it noticed the funds had gone missing at just before 11:00 p.m. local time (1400 GMT) on Thursday.

Hackers targeted cryptocurrencies stored in hot wallets on the exchange and alongside XRP and bitcoin, five other cryptocurrencies were taken, including bitcoin cash, ether and litecoin.

But that didn't stop the Bitpoint parent's stock to plunge as much as 18% on the Tokyo Stock Exchange at one point.

Japan often appears in the news about the theft from crypto exchanges: in September 2018, Zaif, a licensed exchange under the Japan Financial Services Agency, was hacked, losing up to $60 million.

BITpoint Japan Inc.is a Tokyo-based exchange, established in March 2016.

All transactions have been halted, as Remixpoint said it would compensate customers for their losses. The correspondence system department etc. of Bitpoint Japan have started correspondence. In 2017, cryptocurrency exchange Coincheck was hacked for $530 million. Singapore-based Bitrue lost XRP and ADA tokens worth $5 million at the time of the theft, while Slovenia-based British exchange GateHub lost almost $10 million worth of XRP.

For instance, in January 2018, four of the largest crypto exchanges in South Korea created a hotline between themselves to assist them in communicating, detecting, and freezing immediately suspicious transactions. Please do your "very own" market research before making any investment in cryptocurrencies.

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