Japan’s hacked crypto exchange says $62 million worth of coins stolen

By: |
Tokyo | Published: September 21, 2018 6:00:52 PM

Japanese cryptocurrency firm Tech Bureau Corp said on Friday it now estimates $62 million worth of digital currencies were stolen in a hack last week, but added that the amount could still rise as the precise figures would only be known once its computer server is restored.

cryptocurrency, hacked, stolen latest news important news, trending newsThe company initially put the amount stolen at about 6.7 billion yen (.48 million) when it announced the hacking incident at its Zaif exchange on Thursday. (Reuters)

Japanese cryptocurrency firm Tech Bureau Corp said on Friday it now estimates $62 million worth of digital currencies were stolen in a hack last week, but added that the amount could still rise as the precise figures would only be known once its computer server is restored.
The company initially put the amount stolen at about 6.7 billion yen ($59.48 million) when it announced the hacking incident at its Zaif exchange on Thursday.

In a press release issued on Friday, the Osaka-based firm said it has found 5,966.1 Bitcoin, 6,236,810.1

Monacoin and 42,327.1 Bitcoin Cash were stolen. Based on the Sept. 18 closing prices of each coin, they are worth 7 billion yen ($62.10 million), it said, adding about 4.5 billion yen is clients’ assets.

In a separate statement, the company also said it has reported the incident as a criminal matter to investigative authorities and it cannot disclose details of the hacking.

The incident came at a time the cryptocurrency industry is under close scrutiny following the theft of $530 million in digital coins at Tokyo-based cryptocurrency exchange Coincheck Inc. in January. Industry watchers said it is likely to affect the ongoing view at Japanese regulator Financial Services Agency on how to strike a balance between safeguarding users and nurturing technological innovation. ($1 = 112.6500 yen) (Reporting by Taiga Uranaka; Editing by Simon Cameron-Moore)

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Next Stories
1Just 10 crore rich Indians causing big headache to economy; rupee fall, CAD issue explained
2271 million people moved out of poverty in India in 10 years: UN report
3World Bank endorses CPF for India to support its transition to higher middle-income country