Cryptocurrency exchange gets hacked, loses a hefty $32m

The Bitpoint cryptocurrency exchange in Tokyo, Japan, has just become the victim of a hacking attack, as per Bloomberg. The attack has led to a total amount of $32m (¥3.5bn) being stolen in the form of various digital currencies.

Remixpoint, the firm in charge of the affected exchange, has temporarily suspended all services following the security breach. Five cryptocurrencies were involved in the incident, including ripple, bitcoin, bitcoin cash, and more. Remixpoint has said, however, that all of the money was stolen from 'hot wallets', which essentially means crypto-storage that was connected to the internet. The offline 'cold wallets', meanwhile, have not been tampered with.

A similar theft last year, which targeted South Korean exchange Coinrail, led to an estimated loss of $37 million. At the time, bitcoin prices hit a two-month low, falling down to around $6,600. However, the cryptocurrency has recovered well in recent months, becoming worth $10,000 in June for the first time in a whole year. Although its value currently stands at ~$11,600, it will be interestingly to see if any considerable change in its value or in the values of other cryptocurrencies occurs in the wake of the hack.

The firm has also confirmed that about ¥2.5bn (~$23m) from the total money lost belonged to customers, while the rest belongs to the company itself. Following this hacking incident, Remixpoint shares have dropped down by about 19%, hitting their daily lower limit. As of now, there is no news on when the exchange's services are expected to resume.

Source: Bloomberg

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