Japan Gathers 500 Agents to Fight Cybercrime and Crypto Theft

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04 Apr 2018, 16:07

Japan has decided to set up a new agency to better address cybercrime. The Tokyo-based center gathers 500 analysts and investigators who will also combat cryptocurrency theft. Over 3 million attempts to steal digital information have been registered last year. Hackers have stolen funds worth over 17 billion Japanese yen.


$6.3 Million Worth of Cryptocurrency Stolen Before Coincheck
The new law enforcement unit is expected to streamline efforts to combat cybercrime. The center will operate from Tokyo. Over 500 analysts and investigators from different branches of Japanese police and other security services will work at the new agency, Kyodo reported. Authorities hope to address the internet security issues in a more efficient way.

Last year alone, hackers stole ¥17 billion JPY ($166 million USD). That includes ¥662 million ($6.3 million) worth of cryptocurrency. The amount does not cover the funds lost by Coincheck this year. In January hackers took ¥58 billion worth of NEM (~$550 million USD) from the Japanese crypto exchange. Police are still investigating the theft. The hack was probably carried out with a virus emailed to the Coincheck’s employees.


Attention Turning to Crypto Users
In March, Japan’s National Police Agency said it was aware of 149 crypto-related attacks that took place last year. In most cases hackers accessed unprotected crypto wallets storing both public and private keys. Funds in ripple (¥453.5 million), bitcoin (¥194.4 million), etherium (¥5.3 million), and NEM (¥9.2 million) have been illegally transferred to other accounts.


Source: https://news.bitcoin.com/japan-gathers- ... pto-theft/
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girishpal1 (04 Apr 2018, 17:40)
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04 Apr 2018, 16:42

Good update but it can be better..

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04 Apr 2018, 17:20

Wow this theft has become a big problem. Be legit, stay safe and protect yourselves people!

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04 Apr 2018, 22:16

Every country should do similarly Japanese.. that's the only way to make crypto currency safe

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