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Trump vs Bitcoin, Japanese Exchange Hacked | Coffee and Crypto

In the premiere episode of the new Cointelegraph series “Coffee and Crypto,” Olivia Capozzalo and Molly Jane Zuckerman discussed the latest news in the crypto industry. In the premiere episode of the new Cointelegraph series “Coffee and Crypto,” head of editorial Olivia Capozzalo and head of news Molly Jane Zuckerman discussed the latest news in the cryptocurrency industry. Latest news in the cryptocurrency industryIn the video, Capozzalo and Zuckerman discuss United States President Donald Trump criticizing Bitcoin (BTC) and Facebook’s Libra stablecoin, the European Central Bank’s recent statements about Bitcoin, and whether BTC is a currency. Zuckerman also talked about the hack of Japanese exchange Bitpoint, which yesterday published the breakdown of crypto assets stolen in the 3 billion yen (~$27.8 million) hack of its platform earlier this month. Capozzalo spoke about an American computer scientist that has managed to mine Bitcoin on a 52-year-old Apollo guidance computer. Those..

Hacked Bitpoint Exchange Finds $2.3M in Stolen Crypto

Japanese cryptocurrency exchange Bitpoint has reportedly discovered some of its funds that were stolen in a hack last week. Japanese cryptocurrency exchange Bitpoint has discovered over 250 million yen ($2.3 million) in cryptocurrency — part of a $32 million sum that was stolen last week, local English language daily The Mainichi reports on July 14. According to The Mainchi, Bitpoint found the stolen cryptocurrency on overseas exchanges that were using a trading system provided by Bitpoint Japan. Bitpoint told The Mainchi that the recent discovery brings the total sum of lost founds down from 3.5 billion yen ($32 million) to 3.02 billion yen ($28 million). The exchange was initially hacked on July 12. 2.5 billion yen ($23 million) of stolen funds belonged to customers while 1 billion ($9.2 million) belonged to the exchange. Hackers stole Bitcoin (BTC), Litecoin (LTC), Ether (ETH) and XRP from the exchange’s hot wallets. Bitpoint suspended all services following the hack, while the exc..

Singaporean Exchange Bitrue Gets Hacked, Losing $5 Million in XRP, Cardano

Singapore-based cryptocurrency exchange Bitrue has suffered a major hack, losing 9.3 million XRP and 2.5 million cardano (ADA) from its hot wallet. Singapore-based crypto exchange Bitrue has suffered a major hack, losing 9.3 million XRP and 2.5 million cardano (ADA) from its hot wallet. The news was revealed in an official statement from the exchange published as a twitter thread on June 26. At the time of the breach — 1 a.m. GMT+8 June 27 — the stolen funds would have been worth over $4.5 million in XRP (valued at $0.488) and $237,500 in ADA (valued at $0.095), according to CoinMarketCap data. The exchange states that a purportedly single hacker first “exploited a vulnerability in our Risk Control team's 2nd review process to access the personal funds of about 90 Bitrue users,” subsequently using this first experience to access the exchange’s hot wallet and steal the cryptocurrency. According to Bitrue, the attack was swiftly detected and the hacker’s activity suspended by the ..

Japan’s Financial Watchdog Orders Hacked Exchange Zaif to Improve Business

Japan’s financial regulator, the Financial Service Agency, has issued a business improvement order to Japanese investment firm and Zaif crypto exchange operator Fisco. Japan’s financial regulator, the Financial Service Agency (FSA), has issued a business improvement order to Japanese investment firm and Zaif crypto exchange operator Fisco. According to Cointelegraph Japan, the FSA has identified shortcomings in Fisco’s internal control systems — such as anti-money laundering measures — and found it to be insufficiently compliant with local laws and regulations. As previously reported, Fisco assumed ownership of Japanese exchange Zaif in fall 2018, shortly after the platform was hacked to the tune of ~$59.7 million. The FSA’s action has reportedly been taken under the provisions of the country’s Act on Settlement of Funds. The regulator said Fisco’s management failed to recognize the importance of legal compliance, and ordered it to improve risk management systems. It must also establi..

Liquidators of Hacked Cryptopia Exchange Release Report, Note $4.2M Owed to...

Cryptopia’s liquidator Grant Thornton released an estimation on the financial state of the firm, reporting a total of $4.22 million owed to creditors. The liquidators of now-defunct New Zealand crypto exchange Cryptopia have released the first report on the state of affairs of the firm, according to the documents published on May 31. Cryptopia’s recently assigned liquidator, Grant Thornton, has released an estimation statement of the financial state of the firm, reporting that the hacked exchange owes a total of $4.22 million to its creditors. According to the report, there are 69 unsecured creditor claims totalling $2.439 million, with the liquidators adding that they expect to receive further claims, thus raising the amount. The report also indicates that the employee entitlements at the data of liquidation account for around $318,000. In a press release accompanying the report, Thornton stated that the exchange liquidators, David Ruscoe and Russell Moore, are still in the process o..

The Cryptopia Nightmare Drags on as Liquidators Struggle to Reimburse Hacked...

As the Cryptopia liquidation saga continues, new questions emerge about how safe popular exchanges really are. As the cryptocurrency market finds its legs in mid-2019, an unfortunate undercurrent persists vis-à-vis the floundering New Zealand exchange Cryptopia. Its one-time international popularity and solid reputation have already been ruined after the exchange dragged its feet on revealing a January hack, which cost its users somewhere in the region of $16 million in cryptocurrency drained from Cryptopia wallets. However, it was not long before new obstacles emerged in the way of an eventual settlement. Optimism surrounding the reimbursement of these funds to customers is now dwindling, as appointed auditing and liquidation firm Grant Thornton recently indicated “the process of recovering data and determining how to make distributions to account holders will take some months at least.” With similarly guarded language, Grant Thornton executive David Ruscoe commented via a press rele..

Hacked New Zealand Exchange Cryptopia Appoints Liquidators, Trading Suspended

Hacked New Zealand-based cryptocurrency exchange Cryptopia has gone into liquidation and suspended trading services. Hacked New Zealand-based cryptocurrency exchange Cryptopia has appointed David Ruscoe and Russell Moore from consultancy and audit firm network Grant Thornton New Zealand as liquidators. The news was revealed in an official Grant Thornthon announcement on May 15. Grant Thornton New Zealand (NZ) is the local network of Grant Thornton International — a major professional services network of independent accounting and consulting member firms. As Cointelegraph has reported in mid-January of this year, Cryptopia revealed that it had been the target of a security breach resulting in significant losses, with the attack continuing for two weeks after its initial detection until the exchange managed to regain control of its wallets. According to Grant Thornton NZ, Cryptopia has decided to go into liquidation as it has been unable to return the business to profitability, notwiths..

Crypto Exchange Bithumb Reportedly Hacked

According to crypto exchange Bithumb, the exchange detected unusual withdrawal activity. Today, March 30, crypto exchange Bithumb posted on Twitter that their cryptocurrency withdrawals and deposits have temporarily been paused. In an explanation linked to the tweet, the exchange writes that at 10:15 (time zone unknown) on the 29th, they detected what they describe as abnormal withdrawals through their monitoring system. The exchange continues that they have “secured all the cryptocurrency from the detection time with a cold wallet and checked them by blocking deposit and withdrawal service.” According to the translated note, the incident was an “accident involving insiders” and they are conducting investigations with security companies, the cyber police agency, and KISA. A tweet from crypto user Dovey Wan wrote that more than 3 million EOS has been transferred at Bithumb’s cold storage level, but this is unconfirmed. Cointelegraph will update this story as it continues.

New Zealand: Hacked Exchange Cryptopia Expects to Resume Trading by End...

The hacked New Zealand exchange launched the Cryptopia Loss Marker, which will be used in the rebate process for hacked accounts. Cryptopia, the recently hacked New Zealand crypto exchange, has posted an update on March 17 concerning its plan to resume trading on its platform, which is expected by the end of March. In the post, Cryptopia’s co-founder Rob (Hex) Dawson stated that the company is entirely committed to reopening the exchange. Hex provided Cryptopia customers with data about the ongoing rebate process, as well as general recommendations for interacting with their accounts. Cryptopia relaunched its website in read-only form on March 5, with the platform showing the balances as they were at Jan. 14, 2019, the date of the $16 million hack. The exchange explained that the website can be used to reset passwords and two-factor authentication credentials, which is also a top priority issue in terms of client support at the current stage, Hex wrote. In the new announcement, Crypto..

Previously Hacked Gatecoin Exchange Receives Liquidation Order Following Banking Problems

Hong Kong-based Bitcoin and Ethereum exchange Gatecoin has been granted a winding-up order on March 13. Gatecoin, a crypto exchange that was hacked in May 2016, has announced on March 13 that it has received a winding up (compulsory liquidation) order from an unspecified court. The company wrote that Gatecoin will have to cease operation with immediate effect, noting that the exchange will assist in the liquidation process in order to distribute assets to the creditors. The Hong Kong-based exchange had suffered a major hack back in May 2016, with around $2 million in cryptocurrencies lost after the firm reported a security breach that gave hackers access to Gatecoin’s hot wallets. According to the team’s statement at the time, hackers stole 250 Bitcoin (BTC) and 185,000 Ethereum (ETH), which represented 15 percent of Gatecoin’s total crypto assets. At press time, such an amount of BTC and ETH is worth around $25.5 million, according to data from CoinMarketCap. In the recent announceme..
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