![]() ![]() To clarify the situation Coincheck informed Japan News that the stolen coins were tracked as they were sent to many different accounts (as much as 20). NEM European promoter Paul Rieger created a bit of confusion when he stated for Reuters that the unidentified account is actually sending coins in batches of 100 (~US$83) to random accounts rather than other exchanges. With the help of the Foundation, the Japanese exchange and authorities managed to trace all the NEM coins to an unidentified account, and, according to NEM Foundation vice-president Jeff McDonald informed that owners of said account are now slowly moving the stolen coins to six exchanges.Ĭoincheck and the Foundation are trying to collaborate with the other exchanges in order to freeze all outgoing transactions that involve any of the stolen coins. The NEM Foundation assured the affected customers that the underlying protocol offers improved security that will enable authorities to track down the hackers if they try to move the stolen coin to other exchanges in hopes of transforming the cryptocurrency into fiat. Loading.Last week saw the biggest heist ever recorded in the crypto world when hackers managed to steal more than US$500 million worth of NEM coins from Japanese online exchange Coincheck. The theft didn't appear to dampen investors' spirits, with Cointelegraph reporting cryptocurrency markets in Japan rising less than 24 hours after the hack. It's a cryptocurrency, just like bitcoin or ethereum.Īccording to The Verge, it's the eighth largest cryptocurrency in the world by volume.Īt the moment, Coincheck says the theft has been limited to NEM, but after announcing the theft it restricted dealings in most other cryptocurrencies too. World leaders meeting in Davos last week issued fresh warnings about the dangers of cryptocurrencies, with US Treasury Secretary Steven Mnuchin relating Washington's concern about the money being used for illicit activity. The theft underscores security and regulatory concerns about bitcoin and other virtual currencies even as a global boom in them shows little signs of fizzling. The financial watchdog is also considering administrative punishment for Coincheck under the financial settlements law, one of the sources said. Reuters reported two sources with direct knowledge of the matter said Japan's Financial Services Agency (FSA) sent a notice to the country's roughly 30 firms that operate virtual currency exchanges to warn of further possible cyber-attacks, urging them to step up security. Further cyber-attacks possible regulators say ![]() ![]() ![]() I am very sorry," he said.Ĭhief operating officer Yusuke Otsuka said stolen funds were kept in a "hot wallet" - one connected to the internet instead of being secured offline, according to Forbes.Īsked why, company President Koichiro Wada cited technical difficulties and a shortage of staff capable of dealing with them. I deeply apologise for your inconvenience because of this incident. "Some parts of our service were suspended today. The reported loss tops the 48 billion yen the Japan-based Mt Gox Bitcoin exchange lost in 2014.Ĭoincheck president Koichiro Wada apologised at a news conference and said the company may seek financial assistance. The initial theft was reportedly as one of the world's biggest-ever digital cryptocurrency thefts. On Sunday, the exchange announced it would return about 46.3 billion yen ($523 million) to investors, but was still working on the timing and method. On Friday Coincheck exchange said on its website it had halted sales and withdrawals of a cryptocurrency called NEM after hackers stole a reported 58 billion yen ($660 million). ![]()
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