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Bitpoint Japan finds part of stolen cryptocurrency

Mon, 15 Jul 2019, 05:50 am UTC

Bitpoint Japan, which recently suffered a major hack, has discovered a part of the stolen funds, The Mainichi reports.

The cryptocurrency exchange announced last week that it lost approximately $32 million in the hack which was detected on the night of July 11. Bitpoint had suspended all transactions and services soon after the hack.

The incident affected holdings in five different cryptocurrencies including bitcoin, XRP, Litecoin, ether, and bitcoin cash held in the hot wallet.

According to the media report, the exchange has found 250 million yen (approximately $2.3 million) worth of cryptocurrencies lost in the hack.

In its second report on the incident, Bitpoint said that the stolen cryptocurrencies were discovered on exchanges operating overseas that were using a trading system provided by Bitpoint Japan.

With the recovery of 250 million yen worth of crypto, the company’s revised estimate of initial loss stands at 3.02 billion yen.

Bitpoint said that it is continuing with its investigations and plans to establish measures to prevent any such incidents in the future. It is also examining the impact on the consolidated performance of the company and will release the details as soon as possible.

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  • Bitcoin (BTC) $10,178.50 (-4.70%)
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  • Litecoin (LTC) $71.95 (-4.72%)
  • Bitcoin (BTC) $10,178.50 (-4.70%)
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