![]() ![]() The Coincheck security breach sent a shockwave through the Japanese cryptocurrency business community, which is now gearing up to take unified action in order to prevent future incidents and bolster its reputation. It is alleged that the men received approximately 24 million XEM over the dark web from the hacker who stole NEM from Coincheck, Japan’s largest cryptocurrency exchange. Market Impacts of the Coincheck Hack News of the hack turned many NEM investors bearish. However, hackers have made off with more than 500 million worth of cryptocurrency from their hot wallet. BIG has declined to share the details of their investigation, but says they have contacted the relevant authorities. On the platform’s website, Coincheck implies that it stores all customers’ assets completely offline. The Blockchain Intelligence Group claims to have tracked some of the funds to a Vancouver-based cryptocurrency exchange. ![]() Meanwhile, there appears to be some positive progress when it comes to tracking the stolen funds. The Japanese exchange has stated that it has no plans to cease operations and that they will be able to reimburse the vast majority of the customers’ losses. The plan is to refund XEM at the rate of 88 yen per coin, but an official timeline has not yet been set. Two weeks after the hack, Coincheck’s customers were able to withdraw their JPY funds from the exchange after the assets were frozen immediately following the security breach. and pulled off one of the biggest heists in history. The company is famous getting hacked in January 2018 and losing 500 million, the biggest crypto-heist in history. In January 2018, Coincheck suffered from the biggest theft from a cryptocurrency exchange in history. The Japanese cryptocurrency exchange Coincheck is trying to get back on its feet after losing more than 500 million worth of NEM XEM, -1.74 in a January cyber attack. on Friday morning in Tokyo, someone hacked into the digital wallet of Japanese cryptocurrency exchange Coincheck Inc. The plunder of more than 500 million worth of digital coins from the Japanese cryptocurrency exchange Coincheck last week has added to a growing perception that cryptocurrencies are particularly. Coincheck is currently ranked 39 on CoinMarketCap's list of top exchanges. In the last 24 hours, Coincheck has handled $32.69 million in trade volume, making it only the 32nd busiest cryptocurrency exchange.Ĭoincheck promised refunds sourced from the company’s own capital to the 260,000 customers who were affected by the theft of XEM tokens. Cryptocurrency exchange platform got hacked by Russians: 530 million worth of tokens lost. The exchange’s functionality is still limited with only the JPY/BTC trading pair being available, and new user registrations are suspended. In a single day, more than ¥40.1 billion (around $373 million) was withdrawn from the exchange. The Japanese cryptocurrency exchange Coincheck is trying to get back on its feet after losing more than $500 million worth of XEM in a January cyber attack. ![]()
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