3/19/2023 0 Comments Coincheck stolen investigationsAccording to Reuters, Japanese authorities are also investigating every digital currency exchange in Japan for security purposes. Japanese authorities have ordered Coincheck to raise its security standards. As of 3:57 p.m E.T, XEM was trading at 80.6 cents US (99.2 cents CAD) per coin with a total market value of around $7.26 billion US. “We’re contacting those exchanges.” The location of the hackers’ account is, however, unknown.Ĭoincheck digital currency heist is regarded as one of the world’s biggest ever digital currency thefts. “ trying to spend them on multiple exchanges,” said McDonald. The account attempted to sell the coins immediately by moving the coins to six different digital currency exchange sites. Jeff McDonald, the creator of the NEM Foundation and the XEM digital currency, traced the stolen coins to an anonymous account. The hackers are attempting to sell their stolen XEM coins, coins from the native digital currency of NEM. Update 2: Coincheck plans to repay at least some of the lost money to users.On Friday the 26th of January, hackers stole around $534 million US ($657 million CAD) from Tokyo digital currency exchange Coincheck Inc. The language has been updated to ‘thieves’ because, as previously explained, it is not clear at all how the cryptocurrency was taken except that it was done-so “illicitly” according to Coincheck. Update: A previous version of this article referred to ‘hackers’ stealing the cryptocurrency. This is a developing story and will be updated as information becomes available. Japanese police and the country’s Financial Services Agency is currently investigating Coincheck which, it was revealed today, had not previously registered with the agency. We sincerely apologize for these inconveniences and will continue to do our best to be back to normal operations as soon as possible. Rumors of the theft began circulating when Coincheck froze services early on Friday morning.Ĭurrently, credit card, Pay Easy, and convenience store payments are suspended. The company is now considering if and how it will compensate customers. The company says it has a 99 percent market share in Japan for bitcoin payment processing.ĭeposits and withdrawals on Coincheck have been stopped. Launched in 2012, Coincheck is headquartered in Tokyo and boasts over $40 billion in bitcoin transaction volume every month. The price of NEM has fallen by about 11 percent since Coincheck’s troubles began. Thieves stole the full value in NEM tokens, a Japanese-based coin that has one of the highest total market values among cryptocurrencies. The amount lost was originally thought to be around $400 million USD and now further investigation is required to see if even more than $533 million USD has been stolen. Neither the method of attack nor the full amount lost are known publicly at this point. The company plans to repay around $425 million to users, they said on Monday, but offered no specifics on how and when the repayment would materialize. The coins were sent “illicitly” outside Coincheck. Gox in which the coins were valued at $450 million USD. This is the largest cryptocurrency theft of all time, eclipsing the historic 2014 heist against Mt. Thieves stole at least $533 million in an attack against Coincheck, Japan’s largest cryptocurrency exchange, the company’s president and chief operating officer said at a press conference at the Tokyo Stock Exchange on Friday.
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