An 18-year-old hacker was referred to prosecutors in the city of Utsunomiya for stealing , local outlet Today on March 14.
The cybercriminal allegedly hacked Monappy, a digital which can be installed on a smartphone, and stole 15 million yen ($134,196) of between Aug. 14 and Sept. 1 of last year. The hack reportedly affected more than 7,700 users.
The hacker reportedly used the Tor software that enables users to anonymize web traffic. However, the identified the hacker by analyzing the communication records stored on the website’s server. According to Today, the hacker admitted to the allegations.
The attacker submitted multiple transfer requests to his own account, which overwhelmed the system and allowed him to direct more funds to his account. After that, he transferred the coins to another operator, received dividends and spent the money.
As Cointelegraph previously , there was no impact on the cold , which held 54.2 percent of Monappy’s total balances, and no user information, such as email addresses and passwords, was stolen. The company subsequently announced compensation for the lost funds.
The alleged hacker’s identity is reportedly being kept anonymous due to his status as a minor. In , a minor is a person under 20 years of age.
In 2018, over 7,000 cases of suspected money laundering tied to crypto were to Japanese . More than 7,000 suspect transactions reportedly betrayed various red flags — such as being linked to user accounts held under different names and birth dates, but with an identical ID photo.
On a global scale, exchange hacks the most lucrative modus operandi for cyber criminals in 2018, having generated close to $1 billion in revenue. Following an initial hack, the cybercriminals often move stolen funds to a plethora of wallets and exchanges in order to cover their tracks.
Published at Fri, 15 Mar 2019 02:02:41 +0000
