Japan Gov’t Outraged by $60m Crypto Hack of Zaif, Regrets no Suspension

Earlier this month, major Japanese crypto exchange Zaif was hacked, losing $60 million worth of crypto in user funds. The Financial Services Agency (FSA), the main financial watchdog of Japan, has stated that it regrets allowing Zaif to continue its operation after the exchange was given two warnings to drastically improve its system. “It is extremely regrettable that such an incident happened when (Tech Bureau) was given two business improvement orders,” an FSA official said. Two Warnings on System Failures and Fraudulent Withdrawals On September 24, the Japanese government officially…