50,000 Affected Users to be Reimbursed in Crypto by Bitpoint Exchange
- The exhcnage has prepared 2.06 billion yen ($20 million) worth of cryptocurrencies for a refund.
- Recently published document revealed that the hacker took off with 1,225 BTC, 1,985 BCH, 11,169 ETH, 5,108 LTC, and 28,106 XRP.
Illustration of people gathering money from a money tree. Mathieu Persan
Recently hacked Japanese crypto exchange Bitpoint plans to reimburse all of its affected users using cryptocurrency, media outlet Asahi Shimbun reported on July 16 after a news conference.
During the news conference, the company told reporters that the roughly 50,000 affected customers will receive a refund in crypto, on a one to one basis. Originally the exchange reported that the hackers got away with 3.5 billion yen ($32 million) in cryptocurrencies, but a later discovery made by Bitpoint brought that number down to 3.02 billion yen ($28 million).
This Tuesday, Bitpoint’s parent firm Remix Point published a document that revealed the crypto assets stolen in the hack, which are 1,225 Bitcoin, 1,985 Bitcoin Cash, 11,169 Ethereum, 5,108 Litecoin, and 28,106 XRP. Of the stolen assets, 2.06 billion yen worth belong to the exchange’s customers, while the remainder were owned by the company. Affected users will be reimbursed once the exchange goes live, and the platform has restarted its services.
Genki Oda, Bitpoint president, expressed his apologies fo the incident, and assured the media that the company is continuing to investigate the cause of the hack, but offered no further detail on the mater. When he was asked why the refund will be made in crypto and not fiat, he refused to answer because “it includes legal matters.”
- Popular Telegram bot Unibot, which is used to snipe trades on Uniswap, became a victim of a token approval exploit earlier today, when it was switching to a new router.
- After confirming the exploit, Unibot assured users that their keys and wallets were safe, and that the project will compensate all affected users.
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- DeFi protocol Balancer confirmed it was exploited almost a week after disclosing a critical vulnerability affecting several of its boosted pools.
- The platform did its best to mitigate some of the risks but was unable to pause the affected pools, and an estimated $980,000 in DAI were stolen in an attack.
- A cyber security incident at bankruptcy service provider Kroll has resulted in the exposure of “non-sensitive” customer data for claimants involved in the FTX and BlockFi cases.
- Both companies confirmed that account passwords, systems, and funds remained safe, but warned customers to be on the lookout for phishing scams.