Update: Bitpoint Detects Additional $2.3 million In Stolen Assets After Recent Hack

Published July 15, 2019 | Updated July 15, 2019

Update: Bitpoint Detects Additional $2.3 million In Stolen Assets After Recent Hack

Japanese cryptocurrency exchange operator, Bitpoint, announced the discovery of additional $2.3 million (250 million Yen) on Sunday.

The news came after Remixpoint announced last week that its subsidiary (Bitpoint) was initially hacked of $32 million dollars in crypto assets.

Bitpoint, which announced the suspension of exchange activities (trading, deposit, and withdrawals) following the incidence was operating on five major crypto assets at the time. And the exchange was “unsure” or probably was still trying to figure out with assets were affected at the time.

However, Bitpoint made the announcement, indicating that most of the assets stolen from the exchange’s hot wallet were that of the customers.

As the new estimated loss following the hack now touches around $35 million, whether this newly discovered stolen asset belonged to the exchange or its customers was not mentioned.

Nonetheless, Bitpoint’s parent company continued to expand indefinitely as it passed regulatory scrutiny in Thailand.

Last week, Bitherb (also a subsidiary of Remixpoint) got licensed by SEC to operate four more crypto businesses.

Although, as Bitpoint discovers more stolen funds, it is however uncertain how things are going to turn out for three respective groups: Remixpoint, Bitpoint, and Bitherb which was recently set up in Thailand to operate under the newly acquired licenses.

At the moment, Bitpoint’s refund strategy has not yet been announced and customers are still unsure which assets were stolen, both initially and now.

Also, no official statement was made as to whether deposits and withdrawals have commenced on the platform.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Dare Shonubi 247 Articles
Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development. You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com
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