Over the last week, one of the biggest thefts in the crypto market came to surface as Japan's Tokyo - based exchange
Coincheck reported having lost $ 500 million worth NEM tokens overnight.
Lost & Found On January 26, 2018, the cryptocurrency world was once again rocked when Japanese exchange
Coincheck reported the loss of 526 million XEM coins — worth upwards of $ 530 million.
In January, Japanese exchange
Coincheck reported that hackers made off with $ 530 million in virtual cash.
Not exact matches
Coincheck, stung by the theft of $ 530 million of digital money last month, is expected to file a
report with regulators on the hacking.
A senior official from the Japanese FSA said in a Reuters
report that
Coincheck had enough funds to reimburse customers.
In the latest development in the saga, Japanese financial regulators on Monday indicated that they had plans to enforce «administrative punishment» against
Coincheck following the massive hack, Reuters
reported.
Japan's Financial Services Agency (FSA) said it ordered
Coincheck to submit a
report on the hack and measures for preventing a recurrence by February 13.
That's according to Japanese newspaper Asahi Shimbun, which
reports that
Coincheck said that some 500 million units of a cryptocurrency known as NEM, worth about 58 billion yen, had been taken from customers» wallets.
On April 5, it was
reported that the Japanese cryptocurrency exchange
Coincheck, which was robbed of some 523 million NEM tokens on January 26, decided to accept an offer from online brokerage Monex Group to acquire the beleaguered firm.
Coincheck, the Japanese cryptocurrency exchange that was recently robbed of some 523 million XEM (as tokens on the NEM blockchain are called) has been instructed by the country's Financial Services Agency (FSA) to prepare a
report on the incident, according to a press release on the exchange's website.
Can't Nobody Hold
Coincheck Down As
reported by Reuters, Japanese cryptocurrency exchange
Coincheck Inc. has recorded a writedown of roughly $ 432.56 million for the financial year ending in March.
Nikkei Asian Review
reported Monday that
Coincheck was targeted with «suspicious traffic» for weeks leading up to the Jan. 26 heist.
Though some media outlets have
reported the theft as the greatest in the history of cryptocurrency, the value at press time of the 650,000 bitcoin (a conservative estimate) that were stolen from the MtGox exchange, which was headquartered in the same Tokyo neighborhood as
Coincheck, totaled over $ 7 billion.
Japanese online exchange Monex Group is reportedly in talks to buy a majority stake in
Coincheck, according to a
report by the Nikkei Asian Review.
Later this month, the broker will acquire 45.2 percent of
Coincheck's shares from its founder and CEO Koichiro Wada, another 5.5 percent from board member Yusuke Otsuka and 49.3 percent from six other stakeholders, the
report adds.
Monex, the company
reported to be buying crypto exchange
Coincheck.
Capital flowed back into bitcoin on Tuesday amid
reports that a major Japanese exchange was planning to make a bid for
Coincheck, the Tokyo - based crypto platform that was recently hacked.
South Korea's Yonhap News Agency cited parliamentary sources in
reporting Monday on the North's suspected involvement in the Jan. 26 heist, in which hackers made off with 58 billion yen ($ 526 million) worth of the cryptocurrency NEM from Japan's
Coincheck.
Japanese Financial Authority Inspecting 32 Cryptocurrency ExchangesFollowing the hack, the FSA issued a business improvement order to
Coincheck and ordered it to submit a
report by February 13 on the hack as well as measures for preventing a recurrence.
According to Reuters: «Japan's financial regulator said on Friday it had ordered all cryptocurrency exchanges to submit a
report on their system risk management, following the hacking of over half a billion dollars of digital money from
Coincheck.»
Coincheck representatives stated in an email that Nikkei's
report on the matter was not what the company planned on announcing.
Bitcoin rose after
reports Japanese online broker Monex Group is looking to take over recently hacked crypto exchange
Coincheck.
Japanese cryptocurrency exchange
Coincheck, which was the victim of a major heist in early 2018, is to accept a takeover offer from online brokerage Monex Group, a news
report indicates.
Bitcoin prices rose Tuesday after
reports that Japanese online broker Monex Group is looking to take over a recently hacked Japanese cryptocurrency exchange
Coincheck.
Hung out to Dry As
reported by Japan Today, hackers involved in the large - scale
Coincheck heist may have utilized the anonymous «dark web» — which has proved troublesome to investigators trying to track the stolen cryptocurrency then valued at roughly $ 547 million.
Another
report from Nikkei Asian Review indicates that Monex has aired plans to obtain regulatory approval for
Coincheck, with the aim of a June relaunch.
On Tuesday, Nikkei
reported that Monex Group, also based in Tokyo, was «offering to take over
Coincheck.»
Capital flowed back into bitcoin on Tuesday amid
reports that a major Japanese exchange was planning to make a bid for
Coincheck, the Tokyo - based crypto platform...
The news, originally
reported by Nikkei but which Monex has not yet officially confirmed, comes as
Coincheck continues to face stringent inspections from Japan's regulator since it lost $ 530 million to hackers in January.
Monex, the company
reported to be buying crypto exchange
Coincheck.
While an announcement about the
Coincheck buyout could come this week, mainstream media outlets
report, the impact on Monex underscores the continued faith in cryptocurrency's potential in the Japanese sphere.
TOKYO (Sputnik)- Japan's Financial Services Agency launched an inspection of the office of virtual currency exchange
Coincheck in Tokyo after a computer hack that had resulted in the theft of cryptocurrency, NHK broadcaster
reported.
Coincheck was the first the reopen on Sunday, Nikkei Asian Review
reported.
The FSA said it ordered
Coincheck to submit an incident
report and measures for preventing a recurrence by Feb. 13.
That's according to Japanese newspaper Asahi Shimbun, which
reports that
Coincheck said that some 500 million units of a cryptocurrency known as NEM, worth about 58 billion yen, had been taken from customers» wallets.
On Monday, Reuters
reported that 10 traders who used the Tokyo - based exchange
Coincheck are preparing to file a lawsuit with Tokyo's District Court on Thursday.
That being said,
Coincheck at least will likely receive a notice to raise its system's standards, Nikkei
reported, which would be the second time it would be told to do so.
The most notable recent hack was against
Coincheck, with a
reported loss of 500 million NEM, equivalent of $ 530 million USD.
Japan's Financial Services Agency (FSA) has ordered the suspension of two more cryptocurrency exchanges and sent a business improvement notice to another, following a series of inspections after the January hack of around $ 534 mln in NEM from Japanese crypto exchange
Coincheck, local news outlet Nikkei Asian Review
reports today, April 6.
The
reports suggest that Monex Group in Japan, will look at bidding a few billion worth of Yen, as early as this week, with plans to revamp the management team at
Coincheck, particularly on the back of the recent hack.
However, the acquisition has still not been officially confirmed by the broker, and a
report from Reuters states that, when contacted for confirmation of the news,
Coincheck said that it hadn't released information on any deal.
This decision came in response to the media
reports which suggested that the company might just halt its plan of accepting virtual currencies in the aftermath of hacking of
Coincheck — one of the biggest crypto exchanges in Japan.
A
report in Nikkei Asia on North Korea's cyber activities sheds light on the rash of attacks on cryptocurrency exchanges in Asia, including the recent hack of
Coincheck in Japan.
According to a
report in the WSJ,
Coincheck claims that it has completed the compensation it
Numerous
reports are indicating leading cryptocurrency exchange
Coincheck has experienced a serious security breach.
Coincheck, based in Tokyo, has
reported the «illegal outflow... Read More
On - site inspections — which specifically look for gaps in security and
report on risk management solutions and cryptocurrency storage — became a priority for the FSA after the infamous
Coincheck hack.
The FSA gave
Coincheck until February 13, 2018, to submit a
report summarizing the actions it would take to improve security and customer support.
Coincheck have announced that they will refund all customers affected by the hack we
reported on yesterday.
Jiji Press
reported on Monday that «
Coincheck expressed its eagerness to continue its business,» adding that «the company will strengthen its computer security system and information disclosure policy.»