Hacker Involved in 15 Mln Yen Cryptocurrency Theft Referred to Prosecutors in Japan

Prosecutors have dismissed an 18-year-old hacker in the Japanese city of Utsunomiya due to the theft of cryptocurrencies, March 14 local newspaper Japan Today reported.

An online criminal allegedly hunted Monappy, a digital wallet that could be installed on a smartphone, and stole 15 million yen ($ 134,196) in a cryptocurrency between August 14 and September 1 last year. Piracy has allegedly affected more than 7,700 users.


Hacker would use Tor software to allow users to anonymize web traffic. However, the police identified the hacker by analyzing the communications records stored on the site server. According to Japan Today, the hacker has admitted these charges.

The attacker has sent several requests to transfer the cryptocurrency to his account, which overwhelmed the system and allowed him to direct more funds into his account. After that, he transferred the coins to another cryptocurrency operator, earned dividends and spent money.

As Cointelegraph Japan previously pointed out, the cool wallet, which contained 54.2% of Monappy's overall balance, had no impact and no user information, such as email addresses and passwords, was found. Was stolen. The company then announced a fee for lost funds.

The identity of the alleged hacker would remain anonymous because of minor status. In Japan, a minor is under the age of 20.

In 2018, more than 7,000 suspicious cases of cryptographic money laundering had been reported to the Japanese police. More than 7,000 suspicious transactions allegedly issued various alarm signals, including user account links that were kept under different names and birth dates, but with identical identity photographs.

Globally, currency piracy is the most advanced mode of cybercriminals operating in 2018, generating almost $ 1 billion in revenue. After initial hacking, cybercriminals often spend stolen funds on a variety of portfolios and exchanges to cover their tracks.


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