It appears a major breakthrough has occurred regarding one of the most recent cryptocurrency-related hacks. A Japanese teenager has been arrested for stealing over $1250,000 in cryptocurrency. During his attack, he exploited the Monappy social media network and the web-based Monacoin wallet in 2018. It is good to see this investigation yield results.
Monacoin Hack Perpetrator is Caught
A lot of people were surprised to learn the web-based Monacoin wallet suffered from unauthorized third-party access several months ago. This turned out to be part of an ongoing hack of Monappy, a somewhat popular social network in Japan. While both incidents were related to one another, it has taken the investigators some time to put all of the puzzle pieces together. The hard work resulted in the arrest of an 18-year old resident of Utsunomiya, Tochigi.
As it turns out, the unnamed individual confirmed he successfully attacked the Monappy social network between August 14 and September 1 of 2018. All he used was a smartphone, the Tor protocol, and…