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Japan’s Bitpoint crypto exchange hacked for $32 million
#1
Quote:Japanese crypto exchange Bitpoint has become the latest exchange to suffer a major loss of funds. Its loss of $32 million—in five cryptocurrencies—was announced today.
 
The majority of the coins stolen were from customer funds, with just over a quarter belonging to the exchange itself. The funds stolen were in bitcoin, ethereum, XRP, litecoin and bitcoin cash.
 
Bitpoint has not yet said whether customer’s funds will be recouped. Hacked exchanges typically choose to pay back stolen funds, rather than declare bankruptcy, given that they can cover the costs.
This is not the first serious hack Japan has seen. The nation was an early adopter, and so suffered some of the earliest hacks, notably Mt. Gox—which lost $350 million back in 2014.
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