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Another Japanese Crypto Exchange gets Hacked

A Japan-based cryptocurrency exchange, Zaif, has been hacked, losing about USD 60 million worth of cryptocurrency, including 5,966 Bitcoins.

The licensed exchange is operated by the Tech Bureau. After noticing the unusual outflow of funds on the platform, on September 14, the company suspended asset deposit and withdrawal services. Tech Bureau explained that after further investigation, it discovered that hackers with unauthorized access to the exchange’s hot wallets had stolen roughly USD 60 million in Bitcoin, Bitcoin Cash, and MonaCoin.

Moreover, given the nature of the unauthorized fund access, the crypto company has filed the incident as a criminal case to local authorities for further investigation.

The exchange added that since its own asset reserve is currently around USD 20 million, it has reached an agreement with a Japan-listed company called Fisco to receive a USD 44.5 million investment in exchange for a major share of ownership.

The incident marks the second hack in Japan in 2018, after Coincheck also reported that a whopping USD 520 million in NEM tokens were stolen by hackers in January 2018.

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