Japanese exchange Bitpoint hacked – $32 million in cryptocurrencies stolen

Japanese exchange Bitpoint hacked – $32 million in cryptocurrencies stolen

Image source: Shutterstock

Teodor Stig-Matz

teodor.matz@trijo.co

The cryptocurrency stolen in the hacker attack against Bitrue was stored in so-called "hot wallets".

Hacker attacks and thefts have been a problem for the crypto industry for a long time.

Now comes reports of another attack, this time in Japan.

It is the Japanese crypto exchange Bitpoint that claims to have lost about $32 million, of which $23 million belonged to the exchange’s customers.

Parent company fell like a stone on the stock market

The cryptocurrencies stolen were stored in so-called “hot wallets”. It is a kind of storage that takes place on the internet and is considered to be less secure than to store cryptocurrencies on, for example, a hard drive or a so-called hardware wallet.

Bitpoint’s parent company Remixpoint Inc dropped 19 percent on the Japanese stock exchange after the announcement, Bloomberg reports.

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