Japanese cryptocurrency exchange, BitPoint, was all over the news recently following a 3.5 billion yen hack on the exchange. In recent developments, the exchange revealed that 250 million yen worth of cryptocurrencies was found.
The Mainichi, a Japanese news portal reported that the stolen cryptocurrencies were discovered on overseas exchanges that used the trading system offered by BitPoint Japan. The Tokyo-based exchange noted that transactions and services on the exchange were ceased post the 3.5 billion yen hack.
The initial hack took place on July 12 and about 3.5 billion yen was stolen out of which 2.5 billion yen was owned by the customers and the remaining 1 billion by the exchange. As of Sunday, the cryptocurrency exchange estimated a loss of 3.02 billion yen, which includes customer deposits of approximately 2.60 billion yen and 960 million of the company’s holding.
BitPoint’s parent firm, Remixpoint Inc., issued a press release apologizing to the users for the latest mishap. The press release suggested that the company is currently investigating the cause of the illegal outflow while working on minimizing the damage caused by the same. The press release read,
“We are currently continuing to examine the impact on the consolidated performance of the company, and as soon as the details are out we will inform you promptly.”
Sahana is a journalism graduate, who is currently experiencing the work life. She has writing experience in print media and is here to explore the crypto world.