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Japan’s cryptocurrency exchanges face shortage of engineers

TOKYO: When cryptocurrency exchange Coincheck Inc explained how hackers made off with $530 million in digital money, it said part of the problem was beyond its control: Japan’s lack of software engineers. Coincheck said that no matter how hard it tried, it simply couldn’t hire workers with the skills to seal gaps in security. “We were aware we didn’t have enough people working on internal checks, management and system risk,” chief executive Koichiro Wada told reporters last month. “We strived to expand using…

Chaos and hackers stalk investors on cryptocurrency exchanges

LONDON/SHANGHAI/NEW YORK: Dan Wasyluk discovered the hard way that trading cryptocurrencies such as bitcoin happens in an online Wild West where sheriffs are largely absent. Wasyluk and his colleagues raised bitcoins for a new tech venture and lodged them in escrow at a company running a cryptocurrency exchange called Moolah. Just months later the exchange collapsed; the man behind it is now awaiting trial in Britain on fraud and money-laundering charges. He has pleaded not guilty. Wasyluk’s project lost 750 bitcoins,…

Beijing cryptocurrency exchanges told to announce trading halt: source

SHANGHAI: Chinese authorities have ordered Beijing-based cryptocurrency exchanges to cease trading and immediately notify users of their closure, signaling a widening crackdown by authorities on the industry to contain financial risks. Exchanges were also told to stop allowing new user registrations as of Friday, according to a government notice signed by the Beijing city group in charge of overseeing internet finance risks that were circulated online and verified by a government source to Reuters. Platforms should…