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Cryptocurrencies

Zaif cryptocurrency breach victims remain shortchanged

Japan considers tougher protections while industry looks to cap 'hot wallets'

Hackers stole 4.2 billion yen worth of bitcoin from Japanese cryptocurrency exchange operator Tech Bureau in September.   © Reuters

TOKYO -- The Japanese cryptocurrency exchange that lost over 7 billion yen ($61.5 million) to hackers last month has yet to repay the victims of the breach, while both industry and regulators seek stronger consumer protections against the risks plaguing the field.

Tech Bureau, the Osaka-based operator of the virtual currency trading platform Zaif, said Monday it needed more time to finalize a compensation framework for investors harmed by the Sept. 14 cyberattack. The company said earlier it hoped to reach that goal by the end of September.

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