The Japan Financial Services Agency (ASF) has issued a third order of business improvement for the owner of the hacked Zaif crypto, Tech Bureau. The news was released by Cointelegraph Japan today, September 25.
As previously reported, as a result of a security breach at the Zaif crypto exchange house on September 14, hackers managed to steal 6.7 billion yen ($ 59.7 million) in crypto assets owned by both users and to own home. The financial services agency had already commissioned the Tech Bureau to make business improvements first in March and later in June this year.
The ASF believes that the Department of Technology's investigation into the causes of the recent hacking - as well as its response to customers - was inadequate. Although the company announced that it was in talks with the Fisco Group to receive 5 billion yen financial support on Friday, September 21, ASF says it has not received a concrete report on the matter directly from the company.
The new ASF business improvement order specifies the following contents as necessary measures that must be addressed urgently:
"(1) Determination of the facts and causes of the hacking incident (including clarification of the attribution of responsibility) and [the] formulation and implementation of measures to prevent its recurrence.
(2) Preventing Client Damage Expansion
(3) Response to customer damage
(4) Analyze and implement concrete and effective improvement plans based on the hacking incident, [as well as] the contents of [two previous business improvement requests] from March 8 and June 22 [this year]
(5) Submit written reports pertaining to (1) and (4) above by Thursday, September 27. "
According to CT Japan, the ASF team continues to conduct on-site inspections of the Tech Bureau. Based on its findings, the agency will possibly issue more stringent measures, such as a request for commercial suspension and / or cancellation of the registry of the crypto exchange house.
Earlier this summer, ASF published the results of its on-site inspections of crypto currency traders, deciding on the basis of their findings to enforce stricter supervision on new applications of crypto exchange houses that expect to receive an official license of operation . According to the agency, there are currently "hundreds" of companies awaiting review.
In the wake of Coincheck's $ 532 million record hacking hack in January, the year saw the agency develop a series of increasingly demanding measures for domestic operators.