Japanese Cryptocurrency Exchange Hit with $60M Theft

  /     /     /  
Publicated : 23/11/2024   Category : security


Japanese Cryptocurrency Exchange Hit with $60M Theft


The incident highlights a broader problem of poor security in cryptocurrency exchanges throughout the country.



Tech Bureau, a Japanese cryptocurrency exchange, has confirmed a $60 million theft following recent initiatives to improve its security posture.
Tech Bureau said its Zaif exchange was hacked over a two-hour period on Sept. 14. Three days later, it noticed server problems and confirmed the attack on Sept. 18. The theft totaled 6.7 billion yen ($59.67 million USD) in digital currencies, including Bitcoin, Monacoin, and Bitcoin Cash. About 2.2 billion yen belonged to Tech Bureau; 4.5 billion belonged to its clients.
Now the firm reached an agreement with Fisco, which will invest 5 billion yen ($44.59 million USD) and receive majority ownership. Earnings will be used to replace funds taken from customers.
The hack highlights a problem of poor security in cryptocurrency exchanges. Indeed, cryptocurrency exchanges throughout Japan have come under scrutiny after Coincheck suffered a $530 million theft of digital currencies back in January. It reports many exchanges are left vulnerable due to poor management and lack of security for client funds.
Read more details
here
.
 
 
 
Black Hat Europe returns to London Dec 3-6 2018  with hands-on technical Trainings, cutting-edge Briefings, Arsenal open-source tool demonstrations, top-tier security solutions and service providers in the Business Hall. Click for information on the
conference
 and
to register.

Last News

▸ Travel agency fined £150,000 for breaking Data Protection Act. ◂
Discovered: 23/12/2024
Category: security

▸ 7 arrested, 3 more charged in StubHub cyber fraud ring. ◂
Discovered: 23/12/2024
Category: security

▸ Nigerian scammers now turning into mediocre malware pushers. ◂
Discovered: 23/12/2024
Category: security


Cyber Security Categories
Google Dorks Database
Exploits Vulnerability
Exploit Shellcodes

CVE List
Tools/Apps
News/Aarticles

Phishing Database
Deepfake Detection
Trends/Statistics & Live Infos



Tags:
Japanese Cryptocurrency Exchange Hit with $60M Theft