Re-opening A Part Of The Services

Dear Clients:

This is the BITPoint Hong Kong customer support center.
Thank you for your continuous support.

All services have been stopped since July 11th, 2019, due to the illegal outflow of crypto currencies caused by unauthorized access at our system provided by BITPoint Japan. We sincerely apologize for the inconveniences that this may have caused.

We, together with BITPoint Japan as system provider, have made every effort to investigate the cause of this issue; implementation of preventative actions to stop further damages and ensure non-recurrence; as well as the employment of recovery measures. After considering from the customer protection perspective as well as the priority of services needed, as long as our system is safe, various services will be re-opened in stages according to the following schedule.

As a result, fiat currency withdrawal and deposit service, crypto currency leverage trading service and crypto currency spot trading service are expected to be possible.

Crypto currency fund transfer (remittance) to outside address requested by customers, will be sent from our management cold wallet due to security reasons. Thus, this service will have to be re-opened at the end of August. Thank you for your understanding.

BITPoint Hong Kong plans to follow the schedule below.

Services of Re-opening Date of Re-opening(plan)
Crypto Currency Leverage Trading Service(MT4 Trading Service) Resumed
Fiat Currency Withdrawal and Deposit Service August 14th, 2019 13:00HKT
Crypto Currency Spot Trading Service August 14th, 2019 13:00HKT
Crypto Currency Fund Transfer (remittance) Service After September, 2019
Crypto Currency Fund Reception (deposit) Service After the middle of October, 2019
All Other Services undecided

※1:Please note that the schedule is subject to change due to security reasons.
※2:Since all operations and transactions are executed with cold wallet, it will not be real time fund transfers for crypto currency, but after the next business day.
※3:Please note that some services will be restricted for security reasons when necessary.

  1. Fiat Currency Withdrawal and Deposit Service(August 14th, 2019 at 13:00HKT)
    Fiat currency withdrawal and deposit service do not use the crypto currency management wallet(hereinafter referred to as the “crypto wallet”), thus we conclude that there is no risk of illegal outflow of crypto currency.
    Therefore, general account services: “deposit”, “withdrawal” and “internal transfer” is scheduled to be re-opened on August 14th , 2019, at 13:00HKT.
  2. Crypto Currency Leverage Trading Service(MT4 Trading Service)(Resumed on August 9th, 2019)
    The maximum leverage allowed on our crypto currency leverage trading service is 4 times. Crypto Currency Leverage Trading Service(MT4 Trading Service)do not use the crypto wallet, thus we conclude that there is no risk of illegal outflow of crypto currency.
    Therefore, Crypto Currency Leverage Trading Service was resumed on August 9th, 2019.
  3. Crypto Currency Spot Trading Service(August 14th , 2019 Approx. 13:00HKT)
    Crypto Currency Spot Trading Service is the service that related to the illegal outflow this time, so we believe it is highly necessary to be cautious in terms of security.
    Crypto Currency Fund Transfer (remittance) and Fund Reception (deposit) services re-open, as noted as 4. and 5. from below, a certain period of time is expected before re-open. As a result, we will first ensure that the system is safe after crypto currency services re-opened, fund transfer and fund reception services are scheduled to be on August 14th, 2019 at 13:00 HKT. Furthermore, crypto currency wallet is not used for processing orders of crypto currency spot trading from customers, due to system specification. Also, at the time of service re-open, transaction of crypto currency will be made in a batch process from customer wallet to BPHK corporate wallet, where both wallets are cold wallets(crypto currency is securely stored in cold wallet because it is not connected to the internet).
  4. Crypto Currency Fund Transfer (remittance) Service(End of August, 2019)
    Among the crypto currency spot trading services, crypto currency fund transfer (remittance) service is scheduled to be re-opened at the end of August, 2019, after we ensure our system is secure. At this point, we no longer use hot wallet to transfer funds to our customers, but cold wallet instead. We are also considering a tentative method of how to respond when requested a refund from our customer.
  5. Crypto Currency Fund Reception (deposit) Service(October, 2019)
    Of all the crypto currency spot trading services, crypto currency fund reception (deposit) service is less urgent than the above-mentioned services. Thus, we plan to re-open this service in mid of October, 2019 or later, after we ensure the security of our system.

Regarding our future service, while security is our top priority, we will re-open the system as soon as possible. We aim to regain the trust from our customers by striving to improve our system and service.

Once again, we deeply apologize for the inconveniences, and would appreciate your understanding and cooperation.

BITPoint Hong Kong - customer service center

Email: support@bitpoint.hk

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