Japanese cryptocurrency exchange Coincheck says that 500M NEM cryptocurrency tokens, worth ~$400M, have been “illicitly” transferred out of the exchange

Coincheck Inc., one of Japan's biggest digital exchanges, said that about $400 million of the NEM cryptocurrency was lost after it was sent …

Bloomberg 2018-01-27 Yuji Nakamura

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@edvanderwalt Eddie van der Walt on x
This crypto isn't lost at all, is it? It's been stolen. Why doesn't Coincheck just say so? http://www.bloomberg.com/...
@coincheck_en Coincheck on x
All withdrawals from the platform are currently restricted, including JPY. Thank you for your understanding. We are doing our utmost to resume normal operations as soon as possible. http://coincheck.com/...
@haydentiff Tiffany Hayden on x
If you aren't a trader, do NOT leave your crypto on an exchange. Ever. This was THE BIGGEST HACK IN THE HISTORY OF CRYPTO and there *will* be more. Airbitz rebranded into @EdgeSecure to specialize in SECURITY. Beta signup here: http://edgesecure.co/ http://www.coindesk.com/...
@charlesarthur Charles Arthur on x
It's fine, this stuff is all on the blockchain and secured by the unstoppable power of code—you say they have no idea who or how it was taken or where it's gone or even how much was taken? Anyway, as I was saying, fiat currencies is dead, cryptocurrency— where'd he go? http://twi…
@coindesk @coindesk on x
“We will not hard fork to restore funds. The NEM blockchain is a transparent immutable ledger.” — statement from NEM team 1/2
@coindesk @coindesk on x
2/2 “We're helping with tagging the stolen XEM and we're relaying the affected addresses to exchanges.” — NEM team (XEM is the name of the token)
@ynakamura56 Yuji Nakamura on x
Main takeaways from Coincheck press conf: - only NEM impacted - plans to continue operating, restart trading - not clear on plan to repay customers - no multisig - wouldn't admit security was weak - not sure how hacked, if domestic or foreign hackers - CEO barely spoke
@ofnumbers Tim Swanson on x
If this is a real hack Coincheck should just give all customers an X% haircut, self-issue debt tokens, and then list the debt token on their exchange. Just like another exchange that rhymes with “ribfinex.” Or fork NEM into NEM Classic. Either way, more coins for everyone. http:/…
@coincheck_en Coincheck on x
Currently, credit card, Pay Easy, and convenience store payments are suspended. We sincerely apologize for these inconveniences and will continue to do our best to be back to normal operations as soon as possible. http://coincheck.com/...
@whalepool @whalepool on x
$400 Million stolen. Largest theft in history. Only $NEM tokens were taken. http://www.bloomberg.com/...
@ynakamura56 Yuji Nakamura on x
Keep in mind Coincheck's application for an exchange license is still pending with the FSA. The deadline was October, but they were given wiggle room. So maybe they ran out of wiggle room? Just another wrinkle in the mystery behind today's trading halt http://www.bloomberg.com/..…

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Japanese cryptocurrency exchange Coincheck says that 500M NEM cryptocurrency tokens, worth ~$400M, have been “illicitly” transferred out of the exchange

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