XLM Has Been Increasing Since Coinbase Announcement — Analyst Suggests That Will Continue

4m
beincrypto

The Bitcoin Update: BTC Price Drop, Panic Selling by Bitcoin Miners, Bitcoin Halving

5m
cryptoglobe

CoinSpot lists Australia’s first gold and silver-backed cryptocurrency

20m
cryptonewmedia

FATF’s regulations will push criminal activity to privacy coins: CipherTrace CEO

21m
bitcoinwarrior

New Members Added to Ripple’s Regulatory Team, Will Experience Improve the Blockchain Association?

22m
cryptodaily

Flash Crash Sends Bitcoin Price Below Key Moving Average

23m
newsbtc

Crypto Bloodbath: Bitcoin [BTC] Slips to $7.5K; $200 MM Longs Liquidated on BitMEX

29m
coingape

Bitcoin Has Been Hijacked by Communists, Claims BSV Supporter

31m
beincrypto

Bitcoin Price Movement Looks Like ‘Absolute Garbage,’ Claims Analyst

34m
beincrypto

Time to Buy Bitcoin, Stop Yelling about Gold, Says New Grayscale Commercial

40m
utoday

Voyager Digital to pay Users Interest on Bitcoin (BTC) Holdings

43m
cryptonewmedia

Dow Wobbles as Trade War Sinks Its Fangs Into Corporate Earnings

1h
cryptonewmedia

Russia’s Villainy Prevents Call of Duty Launch on PlayStation Store

1h
cryptonewmedia

CZ Claims Vladimir Putin To Be the Most Important Person in Blockchain

1h
cryptodaily

Updating Live: Zuckerberg Hearings Before Congress on Libra

1h
cointelegraph

Bitcoin Drops 2.92%, Now Back to Testing $8,000 Price Level

1h
coininsider

ICO Returns: Class of 2017 Still the Champion

1h
cryptonewmedia

Bitcoin Suisse invests $3 million in CoinRoutes crypto-trading platform

1h
bitcoinwarrior

Bitcoin (BTC): Short Term Bullish Trend Reversal Is Only A Matter Of Time

1h
cryptodaily

Bitcoin Falls Like Clockwork on Futures Expiry Friday

1h
cryptonewmedia

$7.5K: Bitcoin’s Price Tanks to Four-Month Low

1h
coindesk

Hashing Systems set to open name service for Hedera (HBAR) network

1h
cryptonewmedia

Binance Lending Platform Introduces 'Flexible Deposits' for BNB, BTC, and BUSD

1h
cryptoglobe

Bitcoin Halving Price Similarities Outlined by Analyst

2h
beincrypto

Bitcoin Crashes to $7,400 as Crypto Markets Falter

2h
newsbtc


Japanese Crypto Scene Slammed by Hack: $32M in XRP, Bitcoin, Others Sniped

Youch. A Japanese crypto asset exchange, Bitpoint, has just been subject to a large hack, during which attackers managed to steal over $30 million worth of Bitcoin, XRP, Ethereum, Litecoin, and other digital assets. The funds were siphoned out of the exchange via its hot wallet, not the cold wallets as first suggested by some users. This harrowing tidbit of news comes via Bloomberg.

Interestingly, the broader crypto market hasn’t reacted to this debacle, despite the fact that BTC has habitually fallen in the minutes and hours after the hacks of Binance, Bithumb, and so on and so forth. Though, shares of Bitpoint’s parent company, Remixpoint, fell by upwards of 19% on some markets and were actually temporarily frozen due to “a glut of sell orders” by panicked investors.

Revealed in an announcement published via Remixpoint, the upstart exchange claimed that around 70% of the funds lost originate belong to its customers, with the rest coming from company coffers.

Due to this hack, Bitpoint has been mandated to cease its operations for the time being, including deposits, withdrawals, and trading at large.

It is unclear how or if the exchange will reimburse its customers.

This comes at an unfortunate turning point in the Japanese crypto exchange. You see, ever since the monumental CoinCheck hack, which incurred the loss of $500 million worth of a crypto asset named XEM (NEM), the local financial regulator has been very stringent in handling the cryptocurrency space. The Financial Services Agency (FSA), as the entity is known, has developed a serious licensing system for want-to-be trading platforms.

The thing is, Bitpoint had purportedly been somewhat verified by the FSA, but had received a “business improvement order”.

With the agency currently managing a list of over 100 upstart crypto firms wanting to sortie into the exchange space, the FSA may become even more heavy-handed than it already is, potentially resulting in the death of some crypto platforms, and thus investor interest, in the nation.

It is important to note that Japan has been quite friendly to the cryptocurrency space overall. As reported by this outlet previously, Kazuhiro Tokita, the president of the FSA-regulated local crypto exchange DeCurret, in April unveiled a system that would allow for consumers that hold a Suica card, which is used on East Japan Railway Company’s (JR East) metro and shinkansen systems, to top up their balance with digital assets.

Also, Rakuten, an e-commerce heavyweight in the nation, has acquired a Bitcoin exchange, and intends to integrate direct cryptocurrency payments into its stores. Bit Camera, a large electronics retailers, too, has embraced cryptocurrencies, accepting BTC in its stores across the nation.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments