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Japan issues warning again against cryptocurrency exchange

A pedestrian walks by an Osaka building housing cryptocurrency exchange operator Tech Bureau Corp. on Sept. 20, 2018. (Kyodo)

TOKYO (Kyodo) -- Japan's financial watchdog issued on Tuesday its third administrative warning to the operator of the Zaif cryptocurrency exchange platform, which earlier this month lost 7 billion yen ($62 million) worth of digital coins in a security breach.

The Financial Services Agency ordered Tech Bureau Inc. to examine the circumstances that led to the heist and take steps to prevent a recurrence, and to report back with its findings by Thursday.

Tech Bureau has said it plans to reimburse users in full for any losses resulting from the stolen bitcoin, monacoin and bitcoin cash.

The Osaka-based firm had already received two warnings from the agency, in March and June, over a lack of security measures against risks including its platform being used for money laundering.

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