• About Us
  • Careers
  • Contact
No Result
View All Result
Saturday, August 9, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Crime

Fraudsters Target Japan’s Local Digital Currencies, Prompting Security Concerns

21 November 2024
in Crime, News
Reading Time: 2 mins read
106 2
source: ledgerinsights.com

source: ledgerinsights.com

Digital currencies controlled by local governments in Japan are increasingly becoming targets for fraudsters, prompting investigative agencies to urge the implementation of more solid security measures.

According to a report by the Japan Times, Police in Osaka recently apprehended seven Vietnamese nationals for allegedly using stolen credit card details to fraudulently acquire “machikane points,” a regional digital currency in Toyonaka City. The suspects exploited the currency’s premium reward system, which provides up to ¥2,500 (about $345) for purchases of ¥50,000 (~$6,900) by using the same credit card across multiple accounts.

Investigators estimate the group fraudulently obtained nearly half a million dollars in premiums within two days. Authorities suspect other individuals may be involved, as similar scams have emerged in places like Kumagaya and Saitama, where the local Kuma Pay currency was targeted. Several municipalities have reported similar incidents, though some have been reluctant to provide details.

The popularity of digital regional currencies, aimed at boosting local economies, has grown significantly in recent years. According to the report, Senshu University data reveals municipalities issuing digital regional currencies surged from 32 in 2019 to 219 in 2023. However, experts warn that phishing groups are particularly drawn to newly introduced digital currencies.

Authorities are urging municipalities to enhance identity verification protocols and restrict credit card use to those registered in the purchaser’s name. However, some officials argue that preventing phishing-related theft entirely is challenging.

Meanwhile, Japanese authorities have been intensifying efforts to crack down on fraud, with Kobayashi’s arrest marking a significant step in addressing 

phishing-related credit card schemes targeting platforms like Mercari. The group allegedly used stolen credit card details from phishing attacks to execute 42 fake transactions on Mercari, defrauding the platform of 2.75 million yen between June and July 2021. Investigators believe they carried out around 900 similar transactions between June 2021 and January 2022.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: Digital currencyJapanPhishing Scam
Share63Tweet39Share11
Jewel Buddy

Jewel Buddy

Buddy Jewel is a finance writer specializing in cryptocurrency news. With a keen eye on the latest developments in the digital asset space, I provides insightful and timely updates on the ever-evolving world of crypto.

Related Posts

Standard Chartered Backs Ethereum Treasury Companies Over Spot ETFs for ETH Exposure
Ethereum

Standard Chartered Backs Ethereum Treasury Companies Over Spot ETFs for ETH Exposure

7 August 2025
KakaoBank Sets Sights on South Korea’s Stablecoin Market Amid Regulatory Shift
Regulation

KakaoBank Sets Sights on South Korea’s Stablecoin Market Amid Regulatory Shift

7 August 2025
WLFI to Launch Loyalty Program for USD1 Stablecoin Holders with Selected Crypto Partners
Stablecoin

WLFI to Launch Loyalty Program for USD1 Stablecoin Holders with Selected Crypto Partners

7 August 2025
China Moves to Issue First Stablecoins via Hong Kong
Stablecoin

China Moves to Issue First Stablecoins via Hong Kong

7 August 2025

Editors Picks

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

byOlayinka Sodiq
21 July 2025
0

Which Pays Better Right Now: DeFi’s High-Yield Pairs or Traditional Finance’s Cash Vehicles?

Which Pays Better Right Now: DeFi’s High-Yield Pairs or Traditional Finance’s Cash Vehicles?

byOlayinka Sodiq
6 July 2025
0

The Future of Crypto Could Be Institutional—And That’s Not a Bad Thing

The Future of Crypto Could Be Institutional—And That’s Not a Bad Thing

byOlajumoke Oyaleke
30 June 2025
0

What Is a Rebase Token and How Does It Work?

What Is a Rebase Token and How Does It Work?

byOlajumoke Oyaleke
28 June 2025
0

Smart Contracts on Ethereum, Solana, vs. Other Blockchains

Smart Contracts on Ethereum, Solana, vs. Other Blockchains

byOlajumoke Oyaleke
26 June 2025
0

Read More

Chain of Thoughts

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Markets Update

Your Weekend Crypto Roundup | August 2025 (Week 2)

15 hours ago

US Ether ETFs Turn One: What $16.6B in Assets and Bullish Inflows Signal for the Future

6 days ago

Is ETH Restaking Driving Efficiency or Introducing a Dangerous Complexity?

7 days ago

Your Weekend Crypto Roundup | August 2025 (Week 1)

1 week ago

Meta’s $72 Billion AI Investment: A Strategic Shift from the Metaverse to Artificial Intelligence

1 week ago

Is Web3 Finally Solving Its Risk Problem? A Market Review of DeFi Insurance Models

1 week ago
Read More

Events

Rare Evo 2025
Rare Evo 2025
6 Aug 25
Las Vegas
CBDC Conference
CBDC Conference
9 Sep 25
Nassau

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

The New Bybit Web3 is Here–Fueling On-Chain Thrills with $200,000 Up for Grabs

bychainwire
8 August 2025
0

Moving Forward: Builders Are Proving What’s Possible with CARV’s AI Stack

bychainwire
8 August 2025
0

Caldera Announces Partnership with EigenCloud to Integrate EigenDA V2

bychainwire
7 August 2025
0

BYDFi Card Officially Launches: One Card to Seamlessly Bridge Web3 Assets and Real-World Spending

bychainwire
7 August 2025
0

Bybit’s Ben Zhou Charts Bold New Course to Rewrite Crypto Success at Mid-Year Keynote

bychainwire
6 August 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00