Tech Bureau which is a well-known Japanese cryptocurrency exchange has been hacked by criminals. The results of infiltration is a theft of $60M worth of digital assets. This is a e yet another report of a successful operation against such targets.
Tech Bureau Stripped Of $60M of Digital Assets By Hackers
The Tech Bureau cryptocurrency exchange was infiltrated by computer hackers and as a result of the intrusion a total of 60 million US Dollars of digital assets were stolen. The announcement stating the incident reports that the criminals were able to bypass the security systems and have access to private data. This happened on September 14 this year. The Zaif exchange operated by them experienced issues three days later which prompted an analysis of the network infrastructure.
When the theft was discovered it ranged across all major cryptocurrency types: Monero, Bitcoin and Bitcoin Cash. The larger part of the stolen money belongs to the clients. News broke after the company announced that they have made an agreement with Fisco which will invest $44.59 US Dollars and receive the majority ownership. The received funds will be used to replace the ones taken from the Tech Bureau customers.
This is a yet-another attack aimed against cryptocurrency exchanges and mining pools. Several reports indicate security is generally weak in such industries. It is expected that the rate of attacks are going to increase and that further infections into other major sites are expected.
Hacker infiltrations into major sites and services also have a direct impact on the exchange rate of the digital currencies traded on them. This particular example is associated with the most popular ones, namely Bitcoin, Bitcoin Cash and Monero. Investors, customers and potential partners might reconsider the use of the service following the incident or transfer them to another exchange. The Tech Bureau service also operates an API handling the currency encryption and other related actions which may be integrated into online sites, as well as software and hardware services.
Martin Beltov
Martin graduated with a degree in Publishing from Sofia University. As a cyber security enthusiast he enjoys writing about the latest threats and mechanisms of intrusion.
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