Japanese cryptocurrency exchange Bitpoint has suspended operations after losing $32m in a hack involving XRP, Bitcoin and other cryptocurrencies.
The exchange, which is owned by Remixpoint, suspended all deposits and withdrawals to investigate the hack.
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Hackers are believed to have stolen funds from hot and cold wallets of Bitpoint.
Cold wallets store emergency and long-term funds, while hot wallets store funds for present transactions.
The Japanese exchange said that hackers stole funds in five cryptocurrencies, including Bitcoin, Bitcoin Cash, Litecoin, Ripple, and Ethereal.
The exchange said it identified the hack due to errors in the remittance of Ripple funds to customers.
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By GlobalDataOf the total $32m that was stolen, $23m were customer funds while the remaining were funds owned by the exchange itself.
The exchange did not give clarity on whether it will refund customers.
Japan’s Financial Services Agency ordered cryptocurrency operators, including Bitpoint, to strengthen internal controls after the 2018 hack of Coincheck, in which hackers stole $520m worth of Bitcoin.
This May, Binance suspended withdrawals on the platform after hackers stole $41m worth of Bitcoin and other cryptocurrencies.
Last year, Japanese cryptocurrency exchange Zaif had fallen victim to hackers, who stole $60m. Of the stolen money, about $19.6m belonged to the exchange while the rest was client money.
