Bitpoint Hacked for $32 Million, Another Example of Crypto’s Volatility

A Tokyo-based cryptocurrency exchange called Bitpoint has suspended operations after it lost $32 million to a hacking last night. The company that runs the exchange, Remixpoint, discovered that ¥3.5 billion worth of various digital currencies had disappeared under its management. Bitpoint Hacked and Suspends Operations According to the exchange, the funds went missing from a hot wallet (a wallet connected to the internet), but other funds held in cold wallets or offline haven’t been affected. The hacking was brought to light when an error appeared in the exchange’s outgoing funds…

Bitcoin (BTC) Absorbs Sell Pressure, Will $11,200 Hold?

Bitcoin (BTC) up 2.8 percent Hackers strike Bitpoint, user funds stolen Bitpoint is the latest Japanese exchange to lose customer funds through a hack. In an announcement, the exchange said it lost $32 million worth of Bitcoin, Litecoin and other coins stored in their hot wallet. At the time of press, BTC is up 2.8 percent. Fundamentals Japan is known for its flexibility. As one of the early adopters, Japanese regulators are firm on their oversight. Formulating and implementing consumer-centric laws, the Financial Services Agency (FSA) has the best interest…

We Used Lightning Payments for Private SMS Messaging: Here’s How It Worked

Remember the ubiquitous public pay phones? Not so long ago, you could find them at every street corner and they allowed anybody to either make inexpensive calls or receive important messages in desperate situations. They were private in the sense that they required no identification, they offered a neutral degree of safety by virtue of their open positioning and their convenience inspired many Hollywood screenwriters to portray them as criminal tools — just ask John McClane in “Die Hard With a Vengeance.”   But in the era of affordable personal cell…

Making the Tech an Aesthetic, the Bitcoin Art Scene Is Blossoming

When cryptograffiti quit his day job and dove into creating Bitcoin art full time, the concept of thriving as a Bitcoin professional — let alone one whose beat is visual art — would have been ludicrous to most.  In 2012, this included shredding credit cards for resin sculptures and dabbling in street art, all in the name of the Bitcoin brand. “It was super risky early on, and having to explain to family what I was doing [was difficult],” he told Bitcoin Magazine. “I started doing street art and I…