A Tokyo-based cryptocurrency exchange said on July 12 it had halted all services after losing cryptocurrency worth more than United States dollars 32 million in the latest apparent hack involving virtual money.
In an assuring statement, the company said, "To prevent any harm to customer assets, we will handle this responsibly, for example in terms of compensation from Bitpoint".
To reduce that effect, however, Remixpoint Inc, Bitpoint's parent company revealed in a follow-up notice that there are plans to compensate customers, although we could not ascertain to what extent because of the message being in Japanese.
Remixpoint shares plunged 18.6 percent following the announcement.
The exchange also terminated services including "WEB trading site, BitPoint MT4 transactions, API and Smart API services, Store settlement services, BitPoint wallet app, and BitPoint LITE application".
Major cryptocurrency exchange Mt. Gox was hacked and collapsed in Japan in 2014.
The news marks the latest breach of a Japanese exchange.
On July 12, crypto exchange Bitpoint announced that it had lost 3.5 billion yen.
In the transaction process two-factor identification is used as a security measure, and if a transaction is linked to an email address or a cell phone number it means a hacker able to get hold of one's non-cryptocurrency-related personal information may be able to infiltrate the transactions. A working communication system will make it possible to suspend virtual vaults that receive hacking proceeds swiftly assisting in the recovery of funds. The four crypto exchange are Upbit, Korbit, Coinone, and Bithumb.