Home Hacking News Coincheck (cryptocurrency exchange) has lost over $500 Million!

Coincheck (cryptocurrency exchange) has lost over $500 Million!

by Unallocated Author

Coincheck (Japanese-based cryptocurrency exchange) published yesterday that it lost over $532 million at the time of the incident, which seems to be the biggest hack in the history of digital currencies.

The company has confirmed the hack without describing how the tokens were taken, and suddenly suspended most of its services, including deposits, withdrawals and trade of almost all cryptocurrencies including JPY, except Bitcoin.

According to Coincheck:
Currently, payment of all currencies handled by Coincheck (including JPY) is temporarily suspended. With regard to NEM, we continue to temporarily suspend deposits / withdrawals and trading.

The Japanese cryptocurrency exchange has reported the breach to the authorities and to Japan’s Financial Services Agency (FSA) to examine the cause of the stolen coins.

The executives of the Financial Services Agency said “We will report on the damage situation and cause of the case, measures to prevent recurrence, but first we would like you to take every possible measure to protect our customers,”

The price of NEM dropped from $1 to $0.8 (16.5% drop) after the hack news. It is believed that the hacker stole about 7% of all NEM tokens currently in circulation.

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