Japanese Crypto Exchange ‘Zaif’ Hacked, Upto 6,000 Bitcoins Stolen From Exchange

Japanese Crypto Exchange ‘Zaif’ Hacked, Upto 6,000 Bitcoins Stolen From Exchange

Bitcoin News
September 20, 2018 by Jane
1249
The Japanese cryptocurrency exchange ‘Zaif’, which is based in Osaka and operated by Tech Bureau Corp, announced on Wednesday that it had been the victim of a security breach. The exchange has confirmed the hack of about $60 million, which has affected the exchange and its customers. It is estimated that the total loss due to
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The Japanese cryptocurrency exchange ‘Zaif’, which is based in Osaka and operated by Tech Bureau Corp, announced on Wednesday that it had been the victim of a security breach.

The exchange has confirmed the hack of about $60 million, which has affected the exchange and its customers. It is estimated that the total loss due to the damage…is equivalent to about 6.7 billion yen [~US$60 million] (including MONA and BCH) in Japanese yen. About $20 million worth of BTC belonged to the exchange, the other $40 million belonged to customers.

The company noticed suspicious activity on its accounts on September 17 and suspended asset deposit and withdrawal services until the circumstances are clarified. With the following notice on its website:

Thank you very much for using the virtual currency exchange “Zaif” on a daily basis. Currently, deposit/withdrawal of multiple virtual currencies and settlement services are suspended. Regarding the circumstances and future prospects of this matter, please read our press release. We sincerely apologize for any inconvenience to our customers. We look forward to your continued support of the virtual currency exchange “Zaif”.

The company is immediately looking forward towards repaying those who have lost their money in this hack. Tech Bureau has asked for 5 Billion Yen ($44.6 Million) from a subsidiary firm of Fisco Ltd. which would help them repay their users.

The company has also reported this incident to the Treasury Department of Japan, stating that ‘this case is a criminal case’. An official government investigation has been requested into this matter. The company further stated that: Currently, we are checking and strengthening security, rebuilding the server, etc., in order to restart the system of depositing/withdrawing virtual currency.

 

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