theDocumentId => 1332855 Japanese Cryptocurrency Exchange Hit with $60M Theft

Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Threat Intelligence

9/20/2018
12:10 PM
50%
50%

Japanese Cryptocurrency Exchange Hit with $60M Theft

The incident highlights a broader problem of poor security in cryptocurrency exchanges throughout the country.

Tech Bureau, a Japanese cryptocurrency exchange, has confirmed a $60 million theft following recent initiatives to improve its security posture.

Tech Bureau said its Zaif exchange was hacked over a two-hour period on Sept. 14. Three days later, it noticed server problems and confirmed the attack on Sept. 18. The theft totaled 6.7 billion yen ($59.67 million USD) in digital currencies, including Bitcoin, Monacoin, and Bitcoin Cash. About 2.2 billion yen belonged to Tech Bureau; 4.5 billion belonged to its clients.

Now the firm reached an agreement with Fisco, which will invest 5 billion yen ($44.59 million USD) and receive majority ownership. Earnings will be used to replace funds taken from customers.

The hack highlights a problem of poor security in cryptocurrency exchanges. Indeed, cryptocurrency exchanges throughout Japan have come under scrutiny after Coincheck suffered a $530 million theft of digital currencies back in January. It reports many exchanges are left vulnerable due to poor management and lack of security for client funds.

Read more details here.

 

 

 

Black Hat Europe returns to London Dec 3-6 2018  with hands-on technical Trainings, cutting-edge Briefings, Arsenal open-source tool demonstrations, top-tier security solutions and service providers in the Business Hall. Click for information on the conference and to register.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio
 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Edge-DRsplash-10-edge-articles
I Smell a RAT! New Cybersecurity Threats for the Crypto Industry
David Trepp, Partner, IT Assurance with accounting and advisory firm BPM LLP,  7/9/2021
News
Attacks on Kaseya Servers Led to Ransomware in Less Than 2 Hours
Robert Lemos, Contributing Writer,  7/7/2021
Commentary
It's in the Game (but It Shouldn't Be)
Tal Memran, Cybersecurity Expert, CYE,  7/9/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
The State of Cybersecurity Incident Response
In this report learn how enterprises are building their incident response teams and processes, how they research potential compromises, how they respond to new breaches, and what tools and processes they use to remediate problems and improve their cyber defenses for the future.
Flash Poll
How Enterprises are Developing Secure Applications
How Enterprises are Developing Secure Applications
Recent breaches of third-party apps are driving many organizations to think harder about the security of their off-the-shelf software as they continue to move left in secure software development practices.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2021-32686
PUBLISHED: 2021-07-23
PJSIP is a free and open source multimedia communication library written in C language implementing standard based protocols such as SIP, SDP, RTP, STUN, TURN, and ICE. In PJSIP before version 2.11.1, there are a couple of issues found in the SSL socket. First, a race condition between callback and ...
CVE-2021-32783
PUBLISHED: 2021-07-23
Contour is a Kubernetes ingress controller using Envoy proxy. In Contour before version 1.17.1 a specially crafted ExternalName type Service may be used to access Envoy's admin interface, which Contour normally prevents from access outside the Envoy container. This can be used to shut down Envoy rem...
CVE-2021-3169
PUBLISHED: 2021-07-23
An issue in Jumpserver 2.6.2 and below allows attackers to create a connection token through an API which does not have access control and use it to access sensitive assets.
CVE-2020-20741
PUBLISHED: 2021-07-23
Incorrect Access Control in Beckhoff Automation GmbH & Co. KG CX9020 with firmware version CX9020_CB3011_WEC7_HPS_v602_TC31_B4016.6 allows remote attackers to bypass authentication via the "CE Remote Display Tool" as it does not close the incoming connection on the Windows CE side if t...
CVE-2021-25808
PUBLISHED: 2021-07-23
A code injection vulnerability in backup/plugin.php of Bludit 3.13.1 allows attackers to execute arbitrary code via a crafted ZIP file.