Hacker in 15 Million Yen Crypto Theft Referred to Prosecutors
The 18-year-old hacker who was involved in 15 million yen theft was referred to prosecutors in the Japanese city of Utsunomiya for stealing cryptocurrency.
The cybercriminal allegedly hacked Monappy, a digital wallet which can be installed on a smartphone, and stole 15 million yen ($134,196) of cryptocurrency between Aug. 14 and Sept. 1 2018. It reportedly affected more than 7,700 users.
The hacker reportedly used the Tor software that enables users to anonymize web traffic. However, the police identified the hacker by analyzing the communication records stored on the website’s server. According to Japan Today, the hacker admitted to the allegations.
He submitted multiple cryptocurrency transfer requests to his own account, which overwhelmed the system and allowed him to direct more funds to his account after which he transferred the coins to another cryptocurrency operator, received dividends and spent the money.
The alleged hacker’s identity is reportedly being kept anonymous due to his status as a minor. In Japan, a minor is a person under 20 years of age.