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Japanese Police Agency: Encrypted hacking incidents increased by 3 times in the first half of this year

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According to bitcoin magazine reported on September 21st, in the first half of this year, the Japanese police department confirmed cryptocurrency of 158 cases and lost cryptocurrency of 540 million US dollars (about 60.503 billion yen), three times that of the same period last year. The loss of 530 million US dollars (about 58 billion yen) was caused by the Coincheck hacking incident in January this year. The Japanese Police Agency believes that the account information of many users is not secure enough.

In 2014, Mt. Gox, a Tokyo-based exchange, was stolen from 650,000 bitcoins. Since then, Japan has learned from cryptocurrency theft. Even today, although the country has been working hard to educate investors and strengthen supervision of cryptocurrency exchanges, it has not escaped the hacker’s clutch.

After the Osaka-based exchange, Zaif was stolen from a hacking incident worth about $6,000 in cryptocurrency, the Japanese National Police Agency (NPA) released a 2020 BC cryptocurrency in the first half of 2018 involving exchanges and personal passwords. Report of the theft.

According to the police authorities, in the first six months of 2018, cyber hackers stole $540 million (approximately 60.503 billion yen) of cryptocurrency. Of the stolen funds, $58 million came from the exchange and $22 million came from personal encrypted wallets.

During this period, a total of 158 thefts occurred, three times the same period last year. In contrast, a total of 149 thefts occurred throughout 2017, with a total loss of only $6 million.

In the 158 cases of theft in the first half of this year, the New Currency (NEM) accounted for the majority of the stolen funds. In 94 cases of theft, a loss of $7.66 million in bitcoin was lost; in 42 cases of theft, $13.5 million worth of Ripple (XRP) was lost; a total of approximately 542,000 were lost in 14 cases.

Ethereum of the dollar. Of the 158 reported incidents, 60% (102) was due to the fact that individuals used the same ID and password as the cryptocurrency account when shopping online and using e-mail, but this is a taboo to protect online assets.

After the Coincheck hacking incident, the country’s financial regulator, the Japan Financial Services Agency (FSA), began efforts to allow exchange operators to comply with new security measures derived from the relevant legal system that came into effect in April 2017.

From January to March 2018, 120 cryptocurrency thefts (76% of the first half of 2018) occurred. After that, part of the reason was due to the fact that the National Police Agency (NPA) encouraged people to use more secure passwords and the number of thefts dropped. From April 2018 to June 2018, there were only 38 thefts.

Tech Bureau Corp., the operator of the cryptocurrency exchange Zaif, received two warnings from the Japanese National Police Agency (NPA) this year for its non-compliant security measures, but may now receive a warning because the country’s regulator Every effort is being made to reduce the country’s theft losses in the cryptocurrency sector.

This article is writing on 23 Sept 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258

 

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