Bitpoint admits 50,000 customers were affected by $32 million hack

16 Jul, 2019 | Updated: 16 Jul, 2019
by Richard Allen
Bitpoint admits 50,000 customers were affected by $32 million hack

Bitpoint has come out saying that about 50,000 of its 110,000 customers were victims of the recent hack, which saw 3.5 billion yen ($32 million) wiped from the exchange last week, Japanese newspaper The Mainichi reports.

Bitpoint Japan President Genki Oda apologized for the incident during a press conference held in Tokyo and vowed to fully return the stolen funds once the company resumes its services. However, when the exchange plans on reopening remain unclear as the investigation into the hack is still ongoing.

Additionally, the exchange has revealed that it lost an additional 250 million yen ($2.3 million) worth of digital assets from overseas exchanges. According to the report, those exchanges were using Bitpoint’s trading system.

Of the 3.5 billion yen that was stolen, 2.5 billion belonged to customers which reportedly accounts for 13% of the total digital asserts the exchange held.

Hackers may have found an easy way into the exchange’s hot wallet, which contained Bitcoin, Bitcoin Cash, Litecoin, Ripple, and Ethereum, as the financial watchdog ordered Bitpoint Japan last year to improve its internal controls, including management of customers’ assets.

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