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Japanese crypto exchange Bitpoint hacked, lost $32 million

Yogita Khatri

Japanese cryptocurrency exchange Bitpoint has announced today that it has been hacked, losing about 3.5 billion yen ($32 million) in cryptocurrencies, including XRP.

The funds were stolen from "hot wallets," and out of 3.5 billion yen, about 2.5 billion yen belonged to customers, and the remaining to the exchange itself, according to the announcement.

Bitpoint said it identified “an unauthorized outflow of virtual currency” last night and immediately suspended all its services. The exchange offers trading in five cryptocurrencies - bitcoin (BTC), bitcoin cash (BCH), ether (LTC), litecoin (LTC) and XRP.

“We are working hard to find out the cause, identify the outflow, and minimize damage,” it added.

Just last month, Singapore-based cryptocurrency exchange Bitrue suffered a hack, losing about $4.3 million in XRP and Cardano (ADA) tokens.

Today’s Bitpoint hack marks this year’s sixth breach, and the total amount stolen from cryptocurrency exchanges to date now stands at nearly $1.39 billion, according to The Block’s research.