Thread: Hackers steal US$60 million in another Japan cryptocurrency heist

Japanese cryptocurrency firm Tech Bureau Corp said about US$60 million in digital currencies were stolen from its exchange, highlighting the industry’s vulnerability despite recent efforts by authorities to make it more secure.




Tech Bureau, which had already been slapped with two business improvement orders by regulators this year, said its Zaif exchange was hacked over a two-hour period on September 14.


It detected server problems on September 17, confirmed the hack the following day, and notified authorities, the exchange said on Thursday.


Following the hack, Tech Bureau said it had agreed with JASDAQ-listed Fisco Ltd to receive a 5 billion yen (US$44.59 million) investment in exchange for majority ownership.


The proceeds from the investment would be used to replace the digital currencies stolen from client accounts.


However, Fisco said in a statement the 5 billion yen in “financial assistance” may change in value if the amount affected by the heist changes upon further investigation.

MORE. https://www.scmp.com/news/asia/east-...currency-heist

However, Fisco said in a statement the 5 billion yen in “financial assistance” may change in value if the amount affected by the heist changes upon further investigation.

Of course the value will change, a slice isn't missed from a cut loaf.