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  Business   In Other News  20 Sep 2018  USD 60 million in virtual currency hacked in Japan

USD 60 million in virtual currency hacked in Japan

AFP
Published : Sep 20, 2018, 10:05 am IST
Updated : Sep 20, 2018, 10:05 am IST

Japan is a major centre for virtual currencies and as many as 50,000 shops in the country are thought to accept bitcoin.

Earlier this year, Japan-based exchange Coincheck suspended deposits and withdrawal for virtual currencies after it had been hacked. (Photo ;PTI)
 Earlier this year, Japan-based exchange Coincheck suspended deposits and withdrawal for virtual currencies after it had been hacked. (Photo ;PTI)

Tokyo: Digital currency worth around 6.7 billion yen (USD 60 million) has been stolen in Japan following a hacking attack, a virtual exchange operator said on Thursday.

Osaka-based Tech Bureau, which operates virtual currency exchange Zaif, said its server had been illegally accessed and money transfered.

"We decline to comment on the details of how this illegal access occurred, as it is a crime and we've already asked the authorities to investigate," Tech Bureau said in a statement. It added that the virtual currencies stolen were bitcoin, monacoin, and bitcoin cash.

"We will prepare measures so that customers' assets will not be affected" by the hack, it said, adding it would receive financial support from major shareholder Fisco Group.

Japan is a major centre for virtual currencies and as many as 50,000 shops in the country are thought to accept bitcoin.

Earlier this year, Japan-based exchange Coincheck suspended deposits and withdrawal for virtual currencies after it had been hacked, resulting in a loss worth half a billion US dollars of NEM, the 10th biggest cryptocurrency by market capitalisation.

Japanese authorities later ordered two cryptocurrency exchanges to suspend operations as part of a clampdown following the hack.

Tags: virtual currency, digital currency, hack, bitcoin
Location: Japan, Tokyo-to, Tokyo