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Cryptocurrencies

Latest cryptocurrency heist erodes trust in Japan's exchanges

Reforms after Coincheck fail to prevent another major robbery

Hackers stole about $60 million in digital coins, including bitcoin, from virtual currency exchange Zaif.   © Reuters

TOKYO -- Trust in Japan's cryptocurrency industry continues to fade as exchange operator Tech Bureau said Thursday that about 6.7 billion yen ($60 million) in digital coins was stolen last week, just months after Coincheck was hacked for roughly 58 billion yen in January.

Suspicions were raised Monday night when Zaif, a virtual currency exchange service operated by Tech Bureau, tweeted on its official account that deposits and withdrawals of bitcoin and Monacoin "are suspended due to server failure." The company later said deposits and withdrawals of Bitcoin Cash were also suspended. It then tweeted Tuesday around noon that it had "confirmed the safety of customer assets."

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