The Japanese government has reportedly decided to set up a security agency to fight crypto currency theft.
The Tokyo based anti-cyber crime center has selected 500 analysts and investigators from Japanese security and intelligence services, Japan's Kyodo news agency reported.
Cybercrime has become widespread in Japan, where more than 3 million attempts to steal digital information were recorded last year.
Credit cards and cryptocurrency wallets were successfully targeted by cyber criminals.
Hackers have stolen funds worth over 17 billion Japanese yen last year, it is estimated. Out of this, 662 million yen ($6.3 million) was lost in the form of cryptocurrency.
Earlier this year, Japanese crypto exchange Coincheck lost about $550 million worth of NEM coins by way of hacking - with a virus emailed to the Coincheck's employees.
Following this, Japan's financial regulator made a widespread crackdown on the country's cryptocurrency exchanges to step up consumer protection.
Multiple cryptocurrencies were subject to attacks. Japan's National Police Agency said funds in ripple, bitcoin, etherium and NEM were illegally transferred to other accounts.
by Joji Xavier
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