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New $59 Million Hack: Japanese Crypto Exchange Zaif Got Breached

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According to a report by Cointelegraph Japan, the major cryptocurrency exchange Zaif which is operating in Japan recently got hacked. The news is everywhere in the Bitcoin scams category – as hackers have reportedly stolen $59 million worth of cryptocurrencies from the Japanese cryptocurrency exchange.

According to one local report, a security breach that took place on September 14th led to hackers stealing 4.5 billion yen from users’ hot wallets as well as 2.2 billion yen from the assets of the company. The total losses are now amounting to 6.7 billion yen which is roughly $60 million USD.

The company who operated Zaif is named Tech Bureau Inc. According to one official press release, they said that the exchange detected a server error on September 17th, after which they suspended all of the deposits and withdrawals. Later on, the exchange realized that the error was actually a hack – and reported the incident to the Japanese financial regulator, the Financial Services Agency (FSA) of Japan.

The hackers stole 5,966 Bitcoin (BTC) as well as an additional number of Bitcoin Cash (BCH) and MonaCoin (MONA). As Tech Bureau Inc. reported, the firm Fisco Digital Asset Group will help Zaif to cover the lost customer assets by providing 5 billion yen ($44.5 million) and by becoming a majority shareholder in the company.

Meanwhile, Zaif is the 101st largest cryptocurrency exchange in terms of trade volume.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Stefan has been a Bitcoin Specialist for over 5 years. Providing daily news and updates for DC Forecasts.

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Kraken Acquires UK Futures Provider And Crypto Exchange Crypto Facilities

One of the largest crypto exchanges in the United States- Kraken, has officially bought the United Kingdom’s based crypto futures provider and exchange Crypto Facilities according to the company’s press release that we are covering in today’s crypto news. Crypto Facilities was founded in 2015 and is fully regulated which gives Kraken a huge step ahead in the European market. Both of the sides decided not to discuss the price of the purchase but they did say that it was a nine-figure deal. Kraken CEO Jesse Powell said:
 “We are excited to introduce eligible clients to these industry leading futures and index products. Over the coming months, our teams will continue to enhance and expand these offerings.”
The decision comes after crypto exchanges are trying to expand abroad and expand their reach to users and at the same time circumventing the restrictions by the regulatory climate in the United States versus other markets. For example, crypto exchange Bittrex also decided to launch an international branch of its trading platform that will divide the US users so it can be able to offer more tokens to all of the non-US users. This is why both of the companies (Kraken and Crypto Facilities) agreed on the partnership and focus on going forward. According to the press release:
 “Crypto Facilities will remain London-based, benefiting from the regulatory oversight of the Financial Conduct Authority, one of the world’s most forward looking and innovation-focused regulators, and reflecting Kraken’s commitment to the UK as the leading financial and cryptocurrency hub in Europe.’’
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Market Loses $6 Billion In New Downtrend: Coming Closer To A $3,000 Bitcoin

The cryptocurrency news over the past two days focuses on reds - where the Bitcoin price is still dropping and is right now at $3,871. Even though Bitcoin managed to slid to $3,678, the price has now corrected but no one knows whether this is permanent or only for the day. Other major cryptocurrencies such as Ethereum (ETH) and Stellar (XLM) have declined by even more. The price of Ethereum, for example, dropped from $112 to the current $103 while Stellar managed to slid from $0.15 to $0.13 by over 13%. The market lost billions and is now coming closer to the $120 billion mark, while many analysts expect Bitcoin to continue with this downward trend and potentially drop to $3,000. In the past 12 hours alone, the market lost more than $4 billion of its valuation as tokens lost on average around 10% to 20% of their value against the US dollar. On November 25th, the price of Bitcoin (BTC) managed to plunge to its yearly low of $3,456 as many bears began to fuel one of the strongest sell-offs this year. Based on the intensity of the downtrend of BTC over the past two weeks, a drop to a new yearly low in the $3,000 region may be unavoidable, especially if the volume of BTC is considered. Currently, the conditions of BTC remain oversold at $3,800 and in the short-term, the crypto market could experience a minor recovery from its low price range.
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Criminals Are Threatening Business Owners In Amsterdam Demanding 50,000 Euros Worth Of Bitcoin

Business owners in Amsterdam express their worries in today’s crypto news about criminals who are threatening to harm their businesses unless they pay them insanely high amounts of bitcoin. According to local NLTimes, multiple businesses received emails where the criminals demand more than 50,000 euros worth of bitcoin. If the business owners fail to pay the extorted sum, the criminals threaten that they will plant hand grenades where the business are or as a second option, the business will be shot upon. As a precaution, businesses are required to shut down in Amsterdam for an indefinite period of time in case explosive devices are found or a shooting takes place. A piece of the email threat reads:
 “You probably noticed how many entrepreneurs have had to close their doors recently by order of the municipality. To prevent you from being the next one, you must immediately take action.’’
In order to pay the extortion fee, the business owners are instructed to open a new account on two crypto exchanges and them being Coinbase and Coinmama. Next up they have to buy bitcoins on either one of the exchanges and then transfer them to a required address. At least three coffee shops have already received a threat like this in Amsterdam and also a few nightclubs. The criminals even said that the extortion fee will be doubled if the owners don’t make the payment in five days. The email recipients must keep the threat confidential and they are warned for informing the police or any other law enforcement body. If they don’t maintain the confidentiality, the extortion fee will reach a stunning 200,000 euros. However, there is no single business registered to have paid the said amount.
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Fake Debt Collectors Manage To Steal $50,000 In BTC From Four People In Australia

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