Bitpoint Japan finds additional ¥250 million worth of stolen digital currencies in overseas exchanges

Kyodo, JIJI

Cryptocurrency exchange operator Bitpoint Japan Co. said Sunday it found an additional ¥250 million ($2.3 million) worth of digital currencies stolen after losing around ¥3 billion in an earlier hack.

The Tokyo-based company said the latest hacking was discovered at overseas exchanges that use the trading system provided by Bitpoint Japan.

The cryptocurrency exchange operator said Friday it suspended all transactions and services after it was hacked for ¥3.5 billion. The company said Sunday the initial loss is now estimated at ¥3.02 billion.

Bitpoint Japan stores five cryptocurrencies — bitcoin, bitcoin cash, ethereum, litecoin and ripple — in its so-called hot wallet system that is connected to the internet, according to a press release issued by its parent firm, Remixpoint Inc.

The Financial Services Agency ordered Bitpoint Japan on Friday to report on the security breach under the Payment Services Act. The cause of the incident has not been identified yet, company officials said.

Bitpoint Japan was among six cryptocurrency exchange operators ordered by the financial watchdog last year to improve internal controls, including management of customers’ assets.

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