Zaif, Japanese Cryptocurrency Hacked for $60 million

Zaif, another Japan-based cryptocurrency exchange got hacked yesterday for an astounding amount of 6.7 Billion Yen(amounting to $60 million), which also includes 5966 Bitcoins.

Zaif, is a licensed exchange which is being operated by Tech Bureau. The firm mentioned that they noticed an unprecedented outflow of funds at 5 PM Japan time on September 14, following which the firm stopped deposits and withdrawals.

After the initial diagnosis, the firm announced that they found $60 Million of digital assets were stolen by hackers with unauthorised access in forms of Bitcoin, Bitcoin cash and MonaCoin.

The exchange recently finalised an agreement with Fisco, another Japanese firm for $44.5 million investment in exchange of majority shares of Zaif, who is currently valued at $20 million.

Tech Bureau has filed this hack as a criminal innocent to the local authorities for further investigation.

Earlier this year, in January $520 Million were stolen in Japan in form of NEM tokens by hackers.

Following the January hack, the Financial Services Agency (FSA) – Japan’s financial watchdog has been vigilant upon the security measures adopted by the cryptocurrency exchanges spread across country.

Notedly, FSA had earlier issued a plan to Tech bureau in March aimed at improving their security and anti-money laundering aspects of the exchange.

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