Opinion: In order to prevent theft of exchanges, in addition to strengthening security, it is also necessary to identify hackers and recover funds.

According to the Nikkei Asian Review, CipherTrace previously reported that in the first quarter of this year, the loss of cryptocurrency theft and fraud-related activities from the exchange soared to $1.2 billion. Although the exchange strengthened security, it did not stop thieves. BitPoint Japan president Oda Hiroshi said at a press conference recently, "We have coded our keys so that they can't be used when stolen, but they are decoded." According to CipherTrace, there may be many others. The cryptocurrency theft has not been discovered. Bitpoint upgraded internal management and security after receiving a warning from the Financial Services Agency in June 2018. When the warning was lifted on June 28th, Bitpoint seemed to be fully compliant, but it was still hacked, indicating that the regulatory rules passed by industry regulators did not work. In addition to enhancing security, there are also measures to identify hackers and recover funds. Global financial regulators work with the Financial Action Task Force (FATF) to combat money laundering. Regulators and central banks are stepping up their warnings about cryptocurrencies and the need for better regulation of exchanges.