UmBrellaX Web3.0 Accounting Taxation

JULY 2019 BITPoint

The story of BITPoint, the Japanese crypto exchange hack is a well-known one, in the world of cryptocurrencies.

In July 2019, when the company noticed a significant error in the system managing the outgoing funds, Bitpoint took proactive steps. It suspended its services immediately, but even then it was too late, as there had already been a security breach.

As a result of this breach, Bitpoint lost nearly $32 million carried out through the theft of five different cryptocurrencies. Although the company recovered some part of the stolen cryptocurrencies, most of the funds remain lost to this day. The company promised to refund most of its customers, however, BITPoint has not provided a specific timeline for it.

JULY 2019 BITPoint

DAO Community

LEGAL AND DISCLOSURE

COMMUNITY