A Japanese cryptocurrency exchange called Coincheck has lost currency worth approximately $500 million. The heist involved 523 million tokens from a cryptocurrency known as NEM, which belonged to Coincheck customers.
On Friday morning, the funds had been “illegally remitted” outside the exchange. Coincheck is investigating the incident, including whether any computer hacking was involved, the company’s executives said during a Friday press conference.
For now, the exchange has suspended some trading over the site. The heist is one of the biggest to hit the cryptocurrency market.
It exceeds the initial $460 million in bitcoin the Mt. Gox exchange reported losing to hackers in 2014.
(Due to the rising price of Bitcoin, the stolen funds from Mt. Gox are now worth over $7 billion.) While details about the Coincheck theft remain scant, the number of cryptocurrency-related hacks has only been growing. Read more from pcmag.com…
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