Jul 15 / 2019
Latest News / Blockchain news/ Crypto

$32 million stolen from Tokyo crypto exchange

Remixpoint smarting after hack attack sees shares plunge 20%

Remixpoint, a Tokyo-run cryptocurrency exchange has pulled the brakes on its services after a hack stripped a hot wallet of $32m.

The exchance discovered that about ¥3.5bn in various digital currencies was missing after an error appeared in the company’s outgoing funds transfer system last Thursday. Remixpoint, which runs the Bitpoint Japan exchange is responsible for a number of currencies, including Bitcoin, ethereum and ripple.

Remixpoint said that it was analysing the loss and would compensate customers for the losses but gave no further details on the incident. About ¥2.5bn-worth of the missing currency was customer funds, with the rest owned by the firm. Shares in Remixpoint plunged almost 20% after the announcement.

This is the latest hack involving cryptocurrencies, which have become synonymous with vast fluctuations in value, being used in criminality and frequent theft through hacks. Coincheck saw more than $500m worth of digital currency stolen last year while Youbit shut down in 2017 and filed for bankruptcy after 2 consecutive hacks.

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