Business / Corporate

¥3.5 billion hacked from Bitpoint cryptocurrency exchange

Bloomberg

Tokyo-based cryptocurrency exchange Bitpoint suspended all services after losing about ¥3.5 billion in a hack that involved Ripple and other cryptocurrencies.

The exchange, which is owned by Remixpoint Inc., said about ¥2.5 billion of stolen funds belonged to customers, while Bitpoint owned the rest. Remixpoint shares plunged 19 percent 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 — a bitcoin wallet that is online and connected to the Internet — that contained five cryptocurrencies including bitcoin and Bitcoin Cash. It said it hasn’t discovered any funds missing from cold wallets — an offline wallet provided for storing bitcoins that is not linked to the internet.

The exchange was among cryptocurrency operators ordered by the Financial Services Agency to improve internal controls following the 2018 hack of Coincheck.

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