Bitpoint takes a $32 million hit in potential hack

The data security measures of Bitpoint, a Japan-based crypto trading platform provider, come under serious scrutiny following a massive crypto scam that cost the company a mighty thirty-two million dollars ($32 million) loss.

The investigation on the unnerving hack involving theft of significant amounts of Ripple (XRP), Bitcoin (BTC), Litecoin (LTC) and other prominent currencies, unveiled that the exchange lost nearly twenty-three million dollars ($23 million) of user money and one billion dollars ($1 billion) of its own.

It has come to light that the theft attacked a Bitcoin wallet, stored online, comprising of five cryptocurrencies. Meanwhile, the company’s offline wallet remain untampered.

Following the outbreak, the exchange owner Remixpoint Inc. shut down all its services and took…

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