8 Firms to stop to operate as Crypto Exchanges in Japan

  Japanese regulator has confirmed 8 companies want to withdraw applications to operate crypto exchanges and about 100 more companies are to enter the market
01 May 2018   938

The Japanese FSA (Financial Services Agency) organized a study group to consider  the state of cryptocurrencies in Japan last week. In the number observers of the meeting were delegates from the Bank of Japan, the Ministry of Justice, the Consumer Affairs Agency, and the Ministry of Finance. In addition, Taizen Okuyama, President of the newly formed self-regulatory establishment and of foreign exchange platform provider Money Partners Group, was present. 

The agency stated that 8 “deemed dealers” are aimed to withdraw their applications to work cryptocurrency exchanges. According to the Revised Fund Settlement law, deemed dealers are let to operate crypto exchanges while their applications are being investigated by the agency.  

Eight deemed virtual currency exchange companies announce the intention to withdraw registration applications…One company confirms that it does not fall under the virtual currency exchange industry as a result of grasping the actual situation in detail. 
(Financial Services Agency), Japan 

Seven of them will totally withdraw their applications – Tokyo Gateway, Mr. Exchange, Raimu, Bitexpress, Bit Station, Campfire, and Payward Japan which operates Kraken exchange. The FSA revealed that Debit will withdraw its application as a deemed dealer because it does not fall under this classification. Also, about 100 firms have expressed their intention to enter the crypto market. 

The financial watchdog also revealed the number of administrative fines that have been issued so far. Five crypto exchanges have received business suspension orders while seven business improvement orders, excluding Coincheck. In common, 14 orders have been made: one on January 29, seven on March 8, three on April 6, one on April 11, one on April 13, and one on April 25. Coincheck and FSHO received two orders. 

Among the 100 firms to enter the space was Cyberagent which operates the Internet TV station “Abema TV” and the Internet ad business, which boasts the largest market stake in Japan.

China to Finance Hacker Attacks on Exchanges, - FireEye

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period
08 August 2019   388

The hacker group APT41 attacks companies in the areas of healthcare, telecommunications, fintech, media, and cryptocurrency exchanges. This activity is funded by the Chinese government, according to analysts of cybersecurity company FireEye.

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period.

Industries Targeted by APT41
Industries Targeted by APT41

At the same time, APT41 pursues its own goals, extracting financial benefits from attacks, which is unusual for other groups under the Chinese government, according to FireEye.

APT41 is known to include at least two people with the pseudonyms Chzan Xuiguan and Wolfji. The group probably has connections with other hacker organizations like BARIUM and Winnti.

FireEye also evaluated at what time of the day the APT41 attacked the gaming industry (its core target) and businesses from other areas. It turned out that this was happening outside the framework of a standard working day - probably these people, among other things, have the main job.

APT41 Operational Times
APT41 Operational Times

According to the UN Security Council, hackers under the DPRK government stole about $ 2 billion from banking institutions and cryptocurrency exchanges.