Japanese Police Arrests 18-Year Old Hacker for Stealing $134,000 in Monacoin

2019-3-16 11:39

Local prosecutors in Japan have charged an 18-year old male with cryptocurrency theft. Per a report published in a local news outlet, the Metropolitan Police Department (MPD) of Japan are accusing the young adult of stealing 15 million Yen ($134,310) worth of stealing MonaCoin (MONA)—a Litecoin hard fork.

According to the report, this is the first time local authorities have charged a hacker for crypto theft in Japan. The young hacker is accused of breaching Monappy, an online wallet service used by crypto investors to store their digital assets last year. The teenager reportedly took advantage of the website’s vulnerability,

The post Japanese Police Arrests 18-Year Old Hacker for Stealing $134,000 in Monacoin appeared first on CCN

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Источник: ccn.com

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How an 18-Year-Old Hacker Stole Millions of Yen from a Crypto Project

According to local publications, an 18-year-old hacker stole 15 million yen, which is equivalent to $134,640, worth of a crypto asset called Monacoin. On Monappy, a platform that enabled Monacoin users to store their funds, the hacker initiated a large number of transactions in a short period of time to overload the system.