Bitpoint Exchange Hacked for $32 Million in Cryptocurrency

[P4-630]

"Bitpoint, a licensed cryptocurrency exchange based in Japan, has been hacked for $32 million in crypto assets.

According to a CoinDesk Japan report on Friday, Bitpoint halted all services including trading, deposit and withdrawal of all crypto assets on Friday morning after it noticed irregular withdrawal from its hot wallet on Thursday.

It is not yet clear at this stage which types of assets were lost, the exchange offered trading for five cryptocurrencies: bitcoin, bitcoin cash, ether, litecoin and XRP.

The exchange’s parent company Remixpoint Inc. said in an announcement that $23 million of the illegal outflow belonged to its customers.

The news marks the latest breach of a Japanese exchange. In September 2018, Zaif, also a licensed exchange under the Japanese Financial Services Agency, was hacked for $60 million worth of cryptocurrencies.

Earlier last year, Coincheck was also breached, resulting in more than $520 million worth of cryptocurrencies being stolen."

Bitpoint Exchange Hacked for $32 Million in Cryptocurrency

Bitpoint, a licensed cryptocurrency exchange based in Japan, has had $32 million-worth of crypto assets stolen from the platform.

www.coindesk.com

 

[ZenZimZaliben]

This is why you should never store your crypto at an exchange. Always have a wallet.

 

[Space Lynx]

This is why you should never store your crypto at an exchange. Always have a wallet.

Yeah it amazes me honestly. I mined Bitcoin for 3 days in 2012 with a 7990 GPU before quitting it, but even then I knew to use a wallet only. Sadly that drive has been formatted so many times I will never get that coin back, I just never expected it to go anywhere which is why I quit.

 

[Vayra86]

Pretty good business, don't even need to crack a safe.

 

[R-T-B]

Pretty good business, don't even need to crack a safe.

You don't with modern banking scams either.

Safe cracking is really 19th century at this point...

 

[Space Lynx]

You don't with modern banking scams either.

Safe cracking is really 19th century at this point...

yep really when you look at history, people did have to worry about where and how to store their money, but I feel pretty confident that my savings in my bank account is safe and not going anywhere, we can speculate all day about the future, but for the forseeable future i have no anxiety and am glad im not risking any investments. i seen people get rich and thats great but also seen people crash and burn hard, and I seriously don't want to ever experience that spiral down - usually leads to intense depression.

 

[Metroid]

So up to now most hacked exchanges were japanese based, I wonder why hehe

 

[R-T-B]

So up to now most hacked exchanges were japanese based, I wonder why hehe

I doubt there's a connection honestly.