Bitpoint exchange recovers $2.3M of $32M in stolen crypto

15 Jul, 2019
by Colin Hawkins
Update
Bitpoint exchange recovers $2.3M of $32M in stolen crypto

As Chepicap reported earlier this week, the Japanese cryptocurrency exchange Bitpoint, had $32 million (3.5 billion yen) stolen from their exchange on July 12, on July 14 a portion of these stolen funds have been found, as reported by the Japanese news site, Manichi on July 14.

According to Manichi, Bitpoint found over 250 million yen ($2.3 million) on cryptocurrency exchanges overseas, that were using a trading system provided by Bitpoint. This discovery makes the total amount stolen down to 3.02 billion yen ($28 million) compared to the 3.5 billion yen ($32 million) previously.

To recap, the hack began on July 12 and targeted both customers of the exchange and the exchange itself. Of the crypto stolen, 2.5 billion yen ($23 million) belonged to customers, and 1 billion yen ($9.2 million) belonged to the exchange. All services related to Bitpoint were suspended after the hack, and Bitpoint’s parent firm, Remixpoint Inc., share price plummeted 19%.

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