Crypto General News

A combined 500 analysts and investigators to combat against cryptocurrency theft

Tokyo-based cybercrime center gathers 500 investigators to control the situation of hackers stealing cryptocurrencies. As Reported by journalists nearly 3 million attempts were registered last year to steal digital information. Along with this, the report also says hackers have stolen 17 billion Japanese yen funds.

Kyodo stats, the new law enforcement unit to streamline efforts to prevent cybercrime. The center based out of Tokyo have gathered over 500 investigators from nearly all of Japanese police and security services to work for the new cybercrime agency.

Similarly, last year hackers stole over 17 billion Japanese yen funds i.e 166 million USD worth of crypto. Facing the loss, the amount did not cover the funds for Coincheck this year. According to trusted sources, hackers took 58 billion NEM i.e 550 million USD from a Japanese crypto exchange. The report also states the hack was successful by a virus mailing to Coincheck employees and hijacking the systems.

Cyber experts to concern about half of the NEW coins disappearing all of a sudden, stating the fact the hackers might have converted them to other cryptocurrency coins of fiat money. A few days back NEM foundation passed an announcement it would no longer track the stolen NEW coins, the Singapore-based organization said it had “actionable information” to agencies investigating the attack.

Japan these days facing a lot of crime in cyberspace, resulting in 3 million attempts to steal all the data registered in the year 2017 including cryptocurrencies as well as credit card information.

As Japan’s national police agency states it was aware of 149 crypto attacks resulting in hacking the unprotected cryptocurrency wallets storing public and private keys Funds in XRP, BTC, ETH, and NEM were illegally transferred the number.

er of attacks increased by June with 41 cases. Staying below 20 cases per month for the next five months, in December, 25 cases were reported. So far no suspects have been identified.

As reported by Japan Times, 16 Japanese crypto exchanges have been targeted. Authorities have blamed the lack of security in more of the 80{500c8cf8dace8cda8a572d0723319db30d7ae9c572e69fb9e7726ed8fdae7ee9} cases, despite suggesting the exchanges to implement two-factor authorization.

425 such cases have been reported last year by Japan resulting in hackers to aim cryptocurrency users now, alongside transfers of yen and other fiat currencies remain high.

About the author


Joel Picardo

Joel Picardo is a crypto enthusiast, with almost 4 years of experience in this field, he is an expert freelance analyst and advisor. His passion for the crypto world combined with his immense knowledge motivated him to start Bittflex. He is a great asset and a fabulous manager of our project and has gone given it his all to make Bittflex a grand success.

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