Lost and Found: Hacked cryptocurrency exchange BITPoint Found $2,3 Mln of Stolen Crypto

Hacked on April 12, a cryptocurrency exchange Bitpoint managed to find parts of stolen funds on the European exchanges’ wallets.

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According to The Mainichi, the Japanese cryptocurrency exchange BITPoint, which was hacked last week, managed to find part of the stolen funds. This is an amount of $2.3 mln (250 million yen), the whole sum of assets stolen is $32 mln.

The stolen crypto was found abroad, on European exchanges that use the trading system provided by BITPoint Japan. As the company itself claims, the find helped to reduce the total amount from $32 mln (3.5 bln yen) to $28 mln (3.05 bln yen).

👉 MUST READ Hackers Suck $32 Mln in XRP and Other Crypto From Japanese Bitpoint Exchangerelated article image

Recall that hacking took place on July 12. All cryptocurrencies (Bitcoin, Litecoin, Ethereum, Bitcoin Cash and Ripple), were stored on the exchange’s hot wallets. Totally were stolen $23 mln of customers’ funds and $9.2 mln of exchange’s funds. Immediately after the hacking service has suspended its activities.

Prerequisites for concern were back in June last year. Then the Japanese Financial Services Agency, among other recommendations, highlighted the fact that BITPoint is obliged to increase the security level of keeping clients' funds.

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Denis Sinyavskiy

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.