Japanese cryptocurrency exchange Bitpoint has suspended all services after losing $32 million in a hack involving XRP, Bitcoin and other cryptocurrencies.
In an official announcement on July 12, Bitpoint revealed that it had lost around 3.4 billion yen (~$32 million) — 2.5 billion yen (~$23 million) of which belonged to customers and one billion (~$9.1 million) to the exchange.
The exchange’s cold wallets are not reportedly thought to have been compromised, Bitpoint’s announcement indicates.
Bitpoint was one of multiple domestic cryptocurrency exchanges to have been served a business improvement order from Japan’s financial regulator, the Financial Service Agency (FSA), during its wide-ranging inspections of industry businesses, per Bloomberg.
As previously reported, the industry record-breaking hack of $535 million of NEM from Japan’s Coincheck exchange in January 2018 had been attributed to the fact that the coins were stored in a low-security hot wallet.
In 2019, May’s $40 million hack of top cryptocurrency exchange Binance has loomed large over the industry — at least eight cryptocurrency exchanges have been the target of large-scale hacking incidents in the first half of this year, most recently Singapore-based Bitrue.