Japan is one of the most crypto-friendly countries in the world, and the first to have clear regulations for the crypto space. But even though the digital token industry is booming in the country, the security infrastructure of some large crypto exchanges has failed to protect investors’ funds. One reason for this could be a lack of properly qualified software engineers in the country.
Japan has witnessed two of the world’s biggest crypto hacks — Mt. Gox in 2013-14 and Coincheck’s more recent $530 million USD heist. As reported by Reuters, Coincheck could not find skilled IT professionals in the country that could build the impenetrable security infrastructure required to store such large value.
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