9th Breach Against A Cryptocurrency Platform In Last 6 Months It is advised that investors should make sure their wallets are safe from cyber attacks since there has been a 100% increase in attacks against cryptocurrency wallets and exchanges.Īt the time of publishing this article, Coincheck’s website was online but its operations were suspended. It is unclear what will be the exact impact of Coincheck breach or how much it will affect the value of other cryptocurrencies. The company managed around 80% of the world’s Bitcoin trades but ended up filing for bankruptcy. Gox Bitcoin exchange suffered a cyber attack in which 850,000 Bitcoins were stolen. This is not the first time when a Japanese cryptocurrency exchange is in news for all the wrong reasons. But we are doing everything we can to help,” Wong said. However, on Friday evening, the company conducted a press conference and announced that it has suspended the trade for almost every cryptocurrency after the incident.Īccording to the president of blockchain company NEM.io Lon Wong “This is the biggest theft in the history of the world.” “It’s unfortunate that CoinCheck got hacked. Initially, Coincheck suspended the trade for NEM tokens without stating any reason or providing additional information.
We sincerely apologize for these inconveniences and will continue to do our best to be back to normal operations as soon as possible,” said Coincheck’s blog post. “Currently, credit card, Pay Easy, and convenience store payments are suspended. In a press conference held earlier today, Coincheck’s president Koichi Wada apologized to the customers and said that the law enforcement authorities are already investigating the incident. One of Japan’s and Asia’s largest cryptocurrency exchange Coincheck has suffered a data breach in which unknown hackers have stolen 58 billion Yen of the virtual currency “NEM (Nemu)” ($534 million – €429 million) from its digital wallets.Īccording to local media, the Tokyo based exchange has confirmed that it has suffered what appears to be the biggest hack in the history of cryptocurrency business. That involved a similar volume of cryptocurrency ($450 million, based on the value at the time) when 850,000 bitcoins were stolen in early 2014, 650,000 of which remain unaccounted for today.Another day, another cryptocurrency exchange under cyber attack – This time Coincheck, Japanese cryptocurrency exchange has been hacked and lost $534 million in NEM tokens. To understand the Coincheck situation one must first go back to the earlier theft, from another Shibuya-based exchange, Mt Gox. The FSA has not spoken publicly about the heist, but two sources at the regulator briefed Euromoney at length at its Kasumigaseki headquarters in February, on condition of anonymity. It is simultaneously trying to work out what happened, stop it from happening again and decide whether its regulatory approach is flawed. The theft of at least $500 million-equivalent of cryptocurrency from Tokyo-based exchange Coincheck in January has the Financial Services Agency (FSA) reeling. Bad luck? Or has one state of affairs led to the other?
Yet it has now been home to the two biggest heists in cryptocurrency history. The country has sought to build the most sophisticated and inclusive regulatory environment in the world for cryptocurrency exchanges, one that marries supervision with a need to foster innovation. Journalists wait outside cryptocurrency exchange Coincheck's office in Tokyo
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