- COINCHECK STOLEN INVESTIGATIONS UPDATE
- COINCHECK STOLEN INVESTIGATIONS REGISTRATION
- COINCHECK STOLEN INVESTIGATIONS SERIES
COINCHECK STOLEN INVESTIGATIONS REGISTRATION
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," Coincheck said in a statement. "Along with the recent illegal remittance, we apologize for any inconveniences caused by customers, business partners and related parties, such as suspension of some services. That is a lot of money, obviously, though some have criticized Coincheck for not issuing a larger amount. The exchange said it calculated the value of the stolen coins based on the weighted average price of NEM from when it suspended trading to today's notice. In total, Coincheck is looking at around $429 million in compensation for the 523 million coins that were stolen. Now the company is saying it will refund all 260,000 users affected by the hack, at a rate of 88.549 yen per coin, which works out to around 82 cents in U.S. But it is something we are investigating at the moment," Otsuka said. We are tracing them and if we’re able to continue tracking, it may be possible to recover them. At the time, Coincheck co-founder Yusuke Otsuka said the exchange was investigation the hack, with hopes of figuring out where exactly the stolen coins ended up. The theft is believed to be the largest ever in the cryptocurrency community, with hackers plundering 523 million NEM coins worth anywhere from $400 million to $600 million, according to estimates based on different values.Ĭoincheck initially halted trading of all tokens except Bitcoin after the theft occurred.
COINCHECK STOLEN INVESTIGATIONS SERIES
However, it's unclear whether the reward was used as a bargaining tool or just a means of putting a positive spin on an otherwise damaging series of events.A cryptocurrency exchange in Japan is ponying up hundreds of millions of dollars out of its own pocket to compensate customers who had their NEM tokens stolen last week. The company later offered the as-yet unidentified perpetrator a bug bounty of $500,000 for helping to identify security vulnerabilities in its systems. Earlier, a hacker stole - and quickly returned - about $611 million in in Ethereum, Shiba Inu and other digital currencies from the decentralized Poly Network finance platform.
The incident is the second major crypto heist to take place this month.
COINCHECK STOLEN INVESTIGATIONS UPDATE
In its most recent update on Twitter, the company said it was tracking the movement of the stolen assets and working with other exchanges to freeze and recover the funds.
The breach prompted it to halt all crypto withdrawals, though other services including fiat withdrawals and deposits were kept open. Liquid revealed on Thursday morning, Singapore time, that it had detected unauthorized access of some customers' crypto wallets. The funds include $45 million in Ethereum tokens, which the culprit is converting into Ether using decentralised exchanges to avoid them being frozen, according to Elliptic, a crypto tracking firm that is assisting Liquid in its investigation. Japanese cryptocurrency exchange Liquid is the latest victim of a cyberattack that has seen hackers make off with an estimated $97 million in stolen assets. Just days after a hacker pulled off an audacious crypto heist, another major public breach has occured.
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