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In September 2018, the Japan-based cryptocurrency exchange Zaif suffered a major hack that resulted in the theft of approximately $60 million worth of digital assets, including 5,966 Bitcoin. The parent company, Tech Bureau Inc., confirmed the breach two days later, initially attributing it to a system glitch, but later investigations identified a software vulnerability exploited by the attackers. Tech Bureau subsequently sold its ZYF business to Fisco Digital Asset Group, which reimbursed all affected users. The incident damaged Japan’s reputation as a safe crypto hub and prompted heightened regulatory scrutiny of domestic exchanges. The speaker briefly digresses with an unrelated analogy, reflecting an informal narrative style.
