Cryptocurrency Theft Suspect Identified for First Time in Japan

Society

Tokyo, March 15 (Jiji Press)--Tokyo police have sent to prosecutors documents on an 18-year-old boy in Utsunomiya, the capital of Tochigi Prefecture, eastern Japan, for allegedly stealing about 15 million yen worth of cryptocurrency monacoin from a related website.

It is the first time that Japanese authorities have identified and taken action against a person suspected of illegally withdrawing virtual currency, according to the cybercrime division of the Metropolitan Police Department, which arrested the boy on Thursday.

The boy allegedly caused the system for the Monappy cryptocurrency storage service website to function improperly and stole some 15 million yen worth of monacoin in August-September last year. He is suspected of concealing the cyber money in an anonymous account overseas.

He has admitted to the charges, investigative sources said.

On Sept. 1 last year, the Monappy operator noticed that the balance of monacoin was decreasing, and launched an investigation. The probe found that monacoin assets of some 7,700 clients that had been kept in a system connected to an outside network were illegally withdrawn.

[Copyright The Jiji Press, Ltd.]

Jiji Press