Cryptocurrency News From Japan: May 17

Published on by Cointele | Published on

Bitpoin's fiscal year finished on March 20, 2020, showing sales totals 44.4% lower than the year prior.

The company ended the year with operating losses in the red, although the outfit hosted less total loss than the prior year.

Bitpoint suffered a hack in July 2019, bleeding $2.3 million in the process.

The hack resulted in temporary exchange closure, followed by a staged reopening, resuming full service in December 2019.

In total, the ordeal proved expensive for the company, contributing to the overall fiscal year losses.

Bitpoint plans on dialing back its international efforts, focusing on its domestic endeavors.

Bitpoint released additional intel surrounding the hack it suffered in 2019.

"It is highly possible that the maintenance server was hacked and intruded," a Bitpoint announcement said, as covered by Cointelegraph Japan.

Authorities continue an ongoing investigation surrounding the hack.

Bitpoint transitioned to a cold wallet-based operation following the breach.