Zaif Crypto Exchange Hackers Identity May Be Revealed After $60 Million Attack

According to cybersecurity experts at Japan Digital Design, attackers of the cryptocurrency exchange Zaif may have been discovered. Japan Digital Design is a subsidiary of Mitsubishi UFJ Financial Group (MUFG). Zaif is a cryptocurrency exchange based in Japan that lost $60 million dollars after a hack in September.

The information released in a press release on November 5 by Japan Digital Design, says that they investigated the outflow of funds from the exchange right after the hack occurred. Working with different security experts such as Takayuki Sugiura or TokyoWesterns, a cybersecurity team.

Some of the stolen funds held in Monacoin started being moved at the end of October. Japan Digital Design informs that it was able to identify the source of these attackers. The company has already informed the local authorities. There is no specification about the data collected by the company or how accurate it can be. Apparently, they were able to obtain IP addresses and other useful information.

Zaif is an important and recognized crypto exchange located in Japan that has obtained an official license to operate as a trading platform in the country. In September it lost $60 million dollars in virtual currencies such as Bitcoin (BTC), Bitcoin Cash (BCH) and Monacoin (MONA).

According to data from National Police Agency (NPA), Japan has already lost $540 million dollars in virtual currencies during the first six months of 2018. Perhaps, one of the largest cases was the one experienced by Coincheck. At the beginning of the year, Coincheck lost 523 million NEM coins valued around $500 million dollars at that time.

Since that moment, local authorities have been trying to impose stricter regulations in the cryptocurrency market. All cryptocurrency exchanges need to have a license if they want to operate and follow very strict rules to protect users’ funds.

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