$35 Million Illicit Funds Flow Out of BitGet, Japan Warns Crypto Firms

Japanese cryptocurrency exchange BitGet has halted withdrawals after a reported $35 million in illicit funds flowed out of the platform. The incident highlights the ongoing challenges facing crypto exchanges in preventing money laundering and other forms of financial crime.

In related news, DeltaForesight has announced plans to issue a new cryptocurrency called JPYdf, which is pegged to the Japanese yen. The company has raised 324 million yen ($2.8 million) from investors Coral Capital and FFG to support the project.

The Japanese government has issued warnings to several crypto-related companies, including Zoomex, over allegations of unregistered derivatives trading activities.