Japanese cryptocurrency exchange Bitpoint suspended all services after losing about ¥3.5-billion (R445-million) in a hack that involved ripple and other cryptocurrencies.
The exchange, which is owned by Remixpoint, said about ¥2.5-billion of stolen funds belonged to customers, while Bitpoint owned the rest. Remixpoint shares plunged 19% to their daily lower limit, and were untraded in Tokyo as of 1.44pm on a glut of sell orders.
The funds were stolen from a hot wallet that contained five cryptocurrencies including bitcoin and bitcoin cash. It said it hasn’t discovered any funds missing from cold wallets.
The exchange was among cryptocurrency operators ordered by Japan’s Financial Services Agency to improve internal controls following the 2018 hack of Coincheck. — Reported by Lily Nonomiya, (c) 2019 Bloomberg LP