Japanese crypto exchange Bitpoint hacked, lost $32 million
July 12, 2019, 2:05AM EDT
1 min read
Japanese cryptocurrency exchange Bitpoint has announced today that it has been hacked, losing about 3.5 billion yen ($32 million) in cryptocurrencies, including XRP.
The funds were stolen from "hot wallets," and out of 3.5 billion yen, about 2.5 billion yen belonged to customers, and the remaining to the exchange itself, according to the announcement.
Bitpoint said it identified “an unauthorized outflow of virtual currency” last night and immediately suspended all its services. The exchange offers trading in five cryptocurrencies - bitcoin (BTC), bitcoin cash (BCH), ether (LTC), litecoin (LTC) and XRP.
“We are working hard to find out the cause, identify the outflow, and minimize damage,” it added.
Just last month, Singapore-based cryptocurrency exchange Bitrue suffered a hack, losing about $4.3 million in XRP and Cardano (ADA) tokens.
Today’s Bitpoint hack marks this year’s sixth breach, and the total amount stolen from cryptocurrency exchanges to date now stands at nearly $1.39 billion, according to The Block’s research.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.