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Japanese Crypto Exchange Bitpoint Restarting Trade Services

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Japanese crypto exchange Bitpoint is resuming some trading services following a $28 million hack in mid-July.

Bitpoint is re-opening cash deposits and withdrawals in fiat currencies on August 6th following a safety assessment of the exchange’s cryptocurrency wallet. According to CoinDesk Japan, the hacked wallet is no longer in use and therefore not under threat.

Margin trading services will begin August 9th. The exchange says margin trading utilizes a similar wallet to fiat withdrawals. Spot trading will open on August 13th.

Bitpoint confirmed later the stolen crypto assets included 1,225 bitcoin, 1,985 bitcoin cash, 11,169 ether, and 5,108 litecoin. Trading was quickly shut off by the platform thereafter including deposits and withdrawals.

Parent company Remixpoint Inc. said $23 million of the $28 million were customer funds. The method or group behind the hack has yet to be disclosed with an investigation ongoing.

On July 16th, Bitpoint said the 50,000 affected customers will receive funds back on a 1:1 basis.

Image via CoinDesk archives

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