Japanese Cybersecurity Team Investigates Zaif Hack


The Japan Digital Design Co. has revealed on November 5 that its cybersecurity team has been watching the movement of funds coming from Japanese crypto exchange Zaif since its September 14 hack.

Collaborating with cybersecurity group Tokyo Westerns and security specialist Takayuki Sugiura, the digital design company has “estimate[d] the source” of five questionable transactions. The team is able to track the possible attacker or attackers after the stolen Monacoins began moving last October 20.

The company underscores that the investigation has analyzed the path taken by the remittance of the hacked funds. It has also tried to “obtain clues” regarding the hack attack like the source’s IP address. The digital design firm also states that it has collected useful information about the accuracy of its data and the costs connected with the monitoring of Zaif’s transactions.

The crypto exchange has purportedly lost 6.7 billion yen or roughly $60 million (by the time of writing) from the September hack. Zaif has declared it will be collaborating with Fisco Digital Asset Group to devise a strategy to recompense affected users as well as protect crypto investors from any possible future attacks. In addition, Fisco has also agreed to give Zaif major financial support in exchange for a capital partnership, which enables Fisco to acquire the majority of Zaif’s stock.

Japan has suffered a series of hacks in 2018. In a September report by local news outlet Asahi Shimbun, more than 60 billion yen or roughly $535 million in digital currency has been stolen during the first six months of the year.