Home News Exchange Japanese Exchange BitPoint Hacked Again!

Japanese Exchange BitPoint Hacked Again!

July 15, 2019 14:12
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Looks like it is going to be a bad month for Japanese cryptocurrency exchange BitPoint. The exchange had barely come to terms with its hack, when it announced that its security had been breached again and nearly 250 million yen ($2.3 million) worth of cryptocurrencies was missing.

Last week we had reported that the exchange was the victim of a hack which left them with a loss of nearly 3.5 billion yen or $32 million of cryptocurrency. The exchange, which is also into travel, used car and energy businesses apologized on Friday and confirmed that the losses were first discovered on Thursday. News portal TIME stated that the reason for the losses, which included bitcoins as well as Ethereum, Ripple and other kinds of cryptocurrencies, was currently under investigation.

The company, in a statement, had stated that about two-thirds of the losses affected customers while the rest of the missing assets belonged to Remixpoint. For the time being all transactions have been halted, the news portal quoted the company as saying.

According to news portal Japan Times, the Tokyo-based company said the latest hacking was discovered at overseas exchanges that use the trading system provided by Bitpoint Japan.

The news portal further reported that the Japanese regulatory body Financial Services Agency (FSA) had ordered the exchange to report on the security breach under the Payment Services Act.

In March this year, the Japanese financial regulator Financial Services Agency (FSA) had approved two cryptocurrency exchanges, out of 23 that had applied for registration. At the time, FSA had said, “The number of entities which have expressed interest in market entry as virtual currency operators in Japan (Including preliminary consultation/inquiries regarding registration) is more than 140 since last March.” The regulatory body added, “Among 23 entities from which FSA has actually received questionnaire … seven entities are under the main evaluation process as of this March.”

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