Japanese Lost $6M Due to Crypto Hacks in 2017

At least 149 cases of hacking emerged last year; 16 exchanges affected
22 March 2018   461

About $ 6.2 million in the cryptocurrency were stolen from Japanese exchanges and other services last year. This is reported by the Nikkei.

According to him, the National Police Agency published its first annual report on the topic of the Crypto-Currency on Thursday.

The report refers to 149 registered thefts. Users of 16 exchanges and 3 wallets suffered from thefts, lost about 662 million yen. The main goal of intruders was bitcoin. In total, 85 bitcoins were stolen during this period.

The agency does not specify the names of the affected exchanges and services, but notes that during the calculations it did not take into account the theft of 500 million NEMs from the Coincheck this year.

In 122 cases, which account for 80% of the lost funds, additional security measures were not used, such as two-factor authentication, the report says.

The increase in the activity of malefactors coincided with the rise of bitcoin and other crypto-currencies. So, in April, 7 thefts were registered, in May - 19, and in June - 41.

Bakkt to be Launched in December

It is also reported that Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure
19 October 2018   53

The expected launch of the Bakkt will take place on December 12 of this year. It is reported by The Block, citing informed sources.

Also, the material states that the investment bank Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure. At the same time, the bank is considering the possibility of trading futures on a new platform.

In a recent Fortune interview with Bakkt, Kelly Lofler said that the cryptocurrency market is on the verge of a revolution comparable in size to the one that occurred on the energy market in the early 2000s.

Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.

Rana Yared

Managing director, Goldman Sachs’ Principal Strategic Investments group

Bakkt is a cryptocurrency unit of the Intercontinental Exchange (ICE), which is the operator of the New York Stock Exchange. Giants such as Microsoft and Starbucks are taking part in creating of the new project, which is positioned as an “ecosystem for digital assets”.

The new platform will offer deliverable bitcoin futures to the market (unlike the settlement contracts for CBOE and CME, these are based on the underlying asset). The platform will support multiple fiat currencies.