Scammers Hack Japanese Crypto Exchange Zaif And Steal $60 Million
Crypto scammers hacked the Japanese trading platform Zaif and stole 6.7 billion yen (about $60 million), including 5,966 bitcoins, CoinDesk reports.
The licensed crypto exchange Zaif was created and is managed by the Tech Bureau fintech startup. The representatives of the startup reported that on September 14 they discovered the withdrawal of a large amount of funds on the trading platform and immediately blocked all trading operations.
As part of the further investigation, the Tech Bureau experts found that the intruders stole about $60 million in bitcoins, Bitcoin Cash, and MonaCoin by hacking the hot wallets of the crypto platform.
Since the reserve of its own assets is now about $20 million, the management of Zaif applied for a loan to representatives of the registered in Japan firm Fisco in order to cover the damage. The creditor agreed to invest over $44 million in the crypto exchange in return for most of the property of the trading platform. In turn, the Tech Bureau startup filed an application with the police to continue the further investigation of the stealing and open a criminal case.
The case of Zaif’s hacking can be considered the second largest in the number of the stolen funds this year after the January hacker attack on the Coincheck crypto exchange when more than $500 million in NEM tokens were stolen. After this incident, the financial regulator of Japan began to inspect crypto exchanges, paying special attention to their security.
As previously reported, the FSA of Japan reported on the results of the inspection of crypto exchanges.