Newsflash: Japanese Cryptocurrency Exchange Zaif Hacked, $59 Million in Losses

Japanese cryptocurrency exchange Zaif was the victim of a major hack last week, local media sources have reported and the company has now confirmed.

The hack, which occurred on Sept. 14 but was not discovered until Sept. 17, saw the hacker steal various amounts of bitcoin, bitcoin cash, and monacoin from the exchange's hot wallet, collectively worth 6.7 billion yen (just under $60 million).

Zaif is a minor exchange, currently ranked 108th in daily volume, according to CoinMarketCap.

However, the incident could have major implications for the cryptocurrency industry in Japan, as regulators have already tightened their oversight in response to the record-setting Coincheck hack that occurred in January.

This story is developing. Check back for updates...

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About the author

Josiah Wilmoth
Josiah Wilmoth

Josiah is the US Editor at CCN, where he focuses on financial markets and cryptocurrencies. He has written over 2,000 articles since joining CCN in 2014. His work has also been featured on ZeroHedge, Yahoo Finance, and Investing.com. He holds bitcoin, but does not engage in day trading. He lives in rural Virginia. Follow him on Twitter @y3llowb1ackbird or email him directly at josiah.wilmoth(at)ccn.com.

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