Security News

Hacked Cryptocurrency Exchange Loses US$32 million

Hackers struck the Tokyo-based cryptocurrency exchange, Bitpoint, late last week in an attack that netted around 3.5 billion yen (US$32 million) worth of virtual currencies.

The exchange, which handles (virtual) currencies including Bitcoin, Litecoin, Ethereum and Ripple, halted all services (including deposits and withdrawals) after the attack, while an investigation is underway.

RemixPoint, owners of Bitpoint, said via a statement that hackers breached the company's 'hot' and 'cold' wallets (a hot wallet is connected to the internet and houses funds for current transactions, while a cold wallet isn't connected to the internet and stores e.g. long term funds).

About 2.5 billion yen (US$23 million) worth of the stolen currency was customer funds (they would be compensated, said Remixpoint), while the company owned the remainder. Remixpoint shares dropped sharply - around 20% - after the announcement.

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