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$32 Million Swiped From Cryptocurrency Exchange in Latest Hack

Lily Nonomiya
(Bloomberg) -- Japanese cryptocurrency exchange Bitpoint suspended all services after losing about 3.5 billion yen ($32 million) in a hack that involved Ripple and other cryptocurrencies.The exchange, which is owned by Remixpoint Inc., said about 2.5 billion yen of stolen funds belonged to customers, while Bitpoint owned the rest. Remixpoint shares plunged 19% 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 that contained five cryptocurrencies including Bitcoin and Bitcoin Cash. It said it hasn’t discovered any funds missing from cold wallets.The exchange was among cryptocurrency operators ordered by Japan’s Financial Services Agency to improve internal controls following the 2018 hack of Coincheck. To contact the reporter on this story: Lily Nonomiya in Tokyo at lnonomiya@bloomberg.netTo contact the editors responsible for this story: Kyung Bok Cho at kcho7@bloomberg.net, Gearoid ReidyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

(Bloomberg) -- Japanese cryptocurrency exchange Bitpoint suspended all services after losing about 3.5 billion yen ($32 million) in a hack that involved Ripple and other cryptocurrencies.

The exchange, which is owned by Remixpoint Inc., said about 2.5 billion yen of stolen funds belonged to customers, while Bitpoint owned the rest. Remixpoint shares plunged 19% 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 that contained five cryptocurrencies including Bitcoin and Bitcoin Cash. It said it hasn’t discovered any funds missing from cold wallets.

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

To contact the reporter on this story: Lily Nonomiya in Tokyo at lnonomiya@bloomberg.net

To contact the editors responsible for this story: Kyung Bok Cho at kcho7@bloomberg.net, Gearoid Reidy

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.