Bitpoint Hack
INITIAL USD ESTIMATE
$32.0M
What happened
Bitpoint Japan detected unauthorized cryptocurrency withdrawals on 11 July 2019 and disclosed the incident the next day. Its 16 July assessment put the domestic loss at ¥3.028 billion across BTC, BCH, ETH, LTC and XRP. About ¥250 million reported at overseas exchanges using its technology was a separate exposure, not part of that domestic total.
Technical Root Cause
Unauthorized withdrawals affected exchange-held cryptocurrency. The reviewed initial investigation report does not establish the intrusion method; a specific server exploit or key-theft mechanism cannot be stated as confirmed.
Case & protocol details
Classification
Exchange custody
Protocol Type
Centralized exchange
Official Website
www.bitpoint.co.jp/
Protocol Twitter/X
@BITPointJP
How it happened
- An XRP transfer error appeared at 21:11 JST on 11 July. Bitpoint confirmed unauthorized outflows at 22:39.
- On 12 July, it suspended transfers at 06:30 and stopped all services at 10:30 before announcing the incident.
- The investigation covered server access, wallet implementation and transaction tracing. The initial report did not establish the attacker's entry route.
- By 14 July, Bitpoint said it had procured replacement cryptocurrency matching the quantities lost by customers. Replacement assets should not be confused with funds recovered from the attacker.
Evidence & learning
Attack pattern
Compare incidents →Sources and on-chain records
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