Times of Islamabad

Cyber crime: One of the largest ever crypto currency theft

Cyber crime: One of the largest ever crypto currency theft

TOKYO – Japanese cryptocurrency exchange Zaif said Thursday that theexchange had lost 6.7 billion yen (around 60 million US dollars) in digitalcurrencies in a hacker attack.

The hacker attack occurred last Friday and the company detected anabnormality in the system on Monday and found out Tuesday that thecryptocurrencies had been stolen.

About 2.2 billion yen (19.6 million U.S. dollars) of the stolencryptocurrencies belonged to the exchange and the rest was client money,said the Osaka-based company.

The company said it plans to compensate its users in full amount.

Japan’s Financial Services Agency, a government body that oversees banking,securities and exchange, and insurance sectors, has launched aninvestigation into the incident and whether the company had taken propersecurity measures before the attack.

The financial watchdog has issued two administrative warnings to thecompany over slack management earlier this year