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Japanese crypto exchange says US$400 million in NEM currency lost
28 January 2018, 12:34 | Ruby West
Cryptos fall as Coincheck halts withdrawals
According to now available information, the hacker (s) stole only NEM tokens, a recently launched cryptocurrency, ranked the tenth digital currency in the world, based on market cap.
In its heyday, Mt. Gox was just about the only game in town for bitcoin traders and altcoins were still something of a novelty. We are sorry for your inconvenience, but we appreciate your understanding. "We are committed to restarting services including investigation of causes and strengthening of security system and will continue our business in the future as well as ongoing efforts to apply for registration of virtual currency exchange companies to the Financial Services Agency".
Finally, the hack of Nicehash, a bitcoin mining pool, in December 2017, was the most recent major theft of cryptocurrency before the Coincheck breach today.
Depositing NEM on Coincheck is now being restricted.
Coincheckreportedlysaid that it is aware of the address where the stolen NEM tokens are now being stored by hackers.
After hours of speculation Friday night, Coincheck Inc. said the coins were sent "illicitly" outside the venue. Coincheck said that around 523 million of the trade's NEM coins were sent to another record around 3 a.m. nearby time (1 p.m. Thursday), as indicated by a Google interpret of a Japanese transcript of the Friday public interview from Logmi.
At 12:38 PM local time, the exchange halted all purchases of NEM, a token on a distributed blockchain of the same name. We are working very hard to resume our operations as fast as possible."The latest blog reads". Deposits made to your account will not be reflected in your balance, and we advise all users to refrain from making deposits until the restriction has been lifted. The company provides two-factor authentication (2FA) and cold storage. Wong told Cryptonews that NEM's technology was not responsible and that Coincheck did not implement NEM's multi-signature smart contract, "and that's why they could have been hacked". The platform enables its users to buy and sell bitcoin, factom, xmr, fct, dao, and lsk with others.
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