Bitpoint Hack Shows That Regulators’ Scrutiny Does Not Equal Safety

[Tnoy30]

Bitpoint incident continues the streak of hacks targeting Japan-based exchanges.
On July 12, 2019, Tokyo-headquartered cryptocurrency exchange Bitpoint promptly suspended its services after noticing an error in the outgoing funds transfer system. Soon, an official announcement followed, revealing that the trading platform had lost around 3.5 billion yen (roughly $32 million) as a result of a security breach. The exchange’s administration has managed to find a portion of the missing funds since the initial announcement was published. Nevertheless, the security breach seems to continue the streak of hacks targeting Japan-based exchanges.
Read on: https://cointelegraph.com/news/bitpoint-hack-shows-that-regulators-scrutiny-does-not-equal-safety