Last week, a crypto exchange based in Japan – Bitpoint has been damage for $ 32-million in one of the most massive hacker attacks this year. Following this event, Bitpoint published on July 14 that they found another 250 million yen or $ 2.3 million in a cryptocurrency, which is only part of a total stolen prey last week.
An identified part of the hacked cryptocurrencies
Bitpoint found stolen assets on foreign crypto exchanges that used the trading system in their operations provided by Bitpoint Japan. According to the source of the Japanese company, with the latest disclosed amount, the total sum of lost cryptocurrency from 3.5 billion yen ($ 32 million) to 3.02 billion yen ($ 28 million).
A past hacking hit on Bitpoint and summing up losses
Hackers hit the Japanese exchanger on July 12, and on that occasion, 2.5 billion yen or $ 23 million were stolen from customers, while the rest, $ 1 billion ($ 9.2 million), belonged to the crypto exchange itself. The thieves took with them Bitcoin (BTC), Litecoin (LTC), Ether (ETH) and KSRP.
Immediately after this infamous event, Bitpoint shut down all services. Parent company Remikpoint Inc. announced a loss of 19% after a robbery. In Tokyo, Remikpoint remained intact after a hacking attack over a reported sales order.
This hacking incident associated with stealing the cryptocurrency from Bitpoint exchangers can be seen as a record hit on the crypto exchanges in Japan in global. Just to recall, at the beginning of 2018, Coincheck experienced a similar defeat when $ 534 million worth of NEM Token was stolen from Coincheck’s poorly secured crypto hot wallets.
Bitpoint has a business improvement order from the Japanese watchdog FSA
To recall, in June last year, only a few exchanges in Japan have commissioned the business improvement order by the Japanese Financial Services Agency, the Financial Services Agency (FSA). At the time, as it is now, the FSA’s biggest concern was how to align exchangers with the laws that exist to prevent money laundering and the introduction of the known-your-customers system. Besides, the FSA expressed concern that client funds are not sufficiently separate from the assets of the crypto exchanges.