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$32 mn swiped from Japanese cryptocurrency exchange in latest hack

The Japanese exchange, which is owned by Remixpoint Inc., said about 2.5 billion yen of stolen funds belonged to customers, while Bitpoint owned the rest.

business Updated: Jul 12, 2019 14:47 IST
Lily Nonomiya
Lily Nonomiya
Bloomberg
Japanese cryptocurrency exchange,$32 million,$32 million cryptocurrency
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.(REUTERS/ Representative Image)

Japanese 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.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)

First Published: Jul 12, 2019 14:43 IST