RATE Group | Zaif cryptocurrency exchange loses $60 million in recent hack
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Zaif cryptocurrency exchange loses $60 million in recent hack

19 Sep Zaif cryptocurrency exchange loses $60 million in recent hack

Posted at 20:34h in Cryptocurrency News by

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Japanese cryptocurrency exchange Zaif announced today that it lost $60 million worth of company and user funds during a security incident that took place last week.

The company said it discovered the hack on Monday, September 17, and confirmed it a day later, when it reached out to authorities and reported the incident.

The Zaif team suspended user deposits and withdrawals earlier today, while its staff is making sure the hacker(s) is out of their network for good.

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Investigators are still gathering details, but Zaif said the hack took place on September 14, between 17:00 and 19:00 local time, when the attacker siphoned off three types of cryptocurrencies from the company’s “hot wallets.”

A “hot wallet” is a term used to describe a cryptocurrency addresses with light security measures where a cryptocurrency exchange keeps funds for immediate transactions, such as…

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