Following the hack, Bitpoint suspended all services and the exchange’s parent firm Remixpoint Inc. shed 19%. Remixpoint remained untraded in Tokyo due to a reported glut of sell orders. Bitpoint’s attack follows a record-breaking hack of Japanese exchange Coincheck in January 2018, losing $534 million of NEM tokens form the exchanges low-security hot wallet.
Last year in June, several exchanges including Bitpoint, received a business improvement order from Japan’s finance watchdog, Financial Services Agency (FSA). The regulator’s main concerns was the exchanges’ compliance with Anti-Money Laundering and Know Your Customer requirements. Other concerns includes that customer funds were not being kept sufficiently separate from those of the exchanges.
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