Newsflash: Japanese Cryptocurrency Exchange Zaif Hacked, $59 Million in Losses

Japanese cryptocurrency exchange Zaif was the victim of a major hack last week, local media sources have reported and the company has now confirmed.

The hack, which occurred on Sept. 14 but was not discovered until Sept. 17, saw the hacker steal various amounts of bitcoin, bitcoin cash, and monacoin from the exchange’s hot wallet, collectively worth 6.7 billion yen (just under $60 million).

Zaif is a minor exchange, currently ranked 108th in daily volume, according to CoinMarketCap.

However, the incident could have major implications for the cryptocurrency industry in Japan, as regulators have already tightened their oversight in response to the record-setting Coincheck hack that occurred in January.