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BitPoint pledges to refund hack victims

BitPoint pledges to refund hack victims

The Japan-based exchange said it is coming back on stages, starting with restarting withdrawals, taking the order of application into consideration.

August 06, 2019 | AtoZ Markets – Bitpoint, the Japanese crypto exchange has started resuming its trading services, after losing $28 million in a hack mid last July, assuring that the 50,000 customers hit by the incident will receive funds back on a 1:1 basis.

Restarting cash deposits and withdrawals in fiat currencies today, the exchange says that the wallet that fell between the hackers’ hands has been dismissed, announcing that the platform is secure again.

Bitpoint announced as well that it is resuming its margin trading services on Aug. 9, and spot trading resumes back on Aug. 13.

The exchange had announced earlier that On July 11, 2019, they discovered an illegal depletion of virtual currencies managed by the Company, stressing that they were “diligently implementing recovery measures and examining and implementing measures to prevent recurrence.”, adding that they plan to restart various services “in stages”, based on the measures referred to.

How Bitpoint will come back to trading

Today, the exchange divided the trading comeback process as follows:

  • Withdrawal processing will be handled in the order of application. For this reason, withdrawals submitted by 16:00 are usually transferred to your bank account on the next business day (T + 2) the day after the withdrawal request date. It may take some time to receive money.
  • If the name of a financial institution has been changed due to consolidation, etc., if you make a transfer with the old name, it will be impossible to make a transfer and you may not be able to withdraw.
  • We may contact you separately if we determine that we need to confirm your application.
  • In principle, we cannot accept withdrawals (withdrawals) of withdrawals.
  • We cannot accept withdrawals that are less than the bank transfer fee (actual cost 324 yen).
  • If problems that have not been identified at this time are confirmed, we may postpone the resumption without prior notice.
The information in the photo are the result of  internet browser auto translate

It is worth mentioning that the crypto assets stolen in the hack included 1,225 bitcoin, 1,985 bitcoin cash, 11,169 ether, and 5,108 litecoin, which accounts for $23 million of the $28 million of the total funds customers had deposited, as per the parent company Remixpoint Inc, without leaking any more details from the on-going investigation about the perpetrators or the hacking method they followed.



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