$32 Million In Assets Stolen From Crypto Exchange

$32 million in assets stolen from crypto exchange

An expert looking into the massive theft of digital coins from crypto-currency exchange operator BITPoint Japan says the hackers repeatedly accessed its system over a period of 12 hours.

BITPoint Japan's parent company revealed on Friday that 32 million dollars' worth of digital currency was stolen between Thursday night and Friday morning. The theft involved five types of crypto-currency, including Bitcoin and Ripple.

Online security expert Yoshinori Hashimoto analyzed data to get a picture of what happened. He focused on the transfer of Bitcoins.

Hashimoto says about 9 million dollars' worth of the currency was transferred out of Bitpoint's account at around 9 p.m. on Thursday.

More assets were moved to the hackers' account over the next 12 hours. Bitpoint lost a total of 25 million dollars' worth of Bitcoin.

Hashimoto says the loss could have been cut in half if the company had stopped all transactions as soon as it detected the abnormally large transfer.

He says crypto-currency exchange users should always keep in mind that the online service are prone to hacking.