Sentences with phrase «coincheck wallets»

The compensation will be paid in Japanese yen, directly to users» Coincheck wallets.

The FSA has been scrutinizing exchanges» security networks and customer support systems in the wake of a massive hack on Coincheck wallets in January.

The Financial Services Agency (FSA) has been cracking down on cryptocurrency exchanges in the wake of the $ 533 million theft of NEM tokens from the Coincheck wallet earlier this year.

Balances will be repaid in JPY via the Coincheck Wallet the firm has stated and will be valued at approximately $ 0.81 USD per token.

On January 26, 526 million XEM were reported missing from wallets on the Japanese cryptocurrency exchange Coincheck due to a massive security breach of the Coincheck wallet.

Coincheck said all hacked accounts will be repaid via the Coincheck wallet.

Not exact matches

Japan's Financial Services Agency told Coincheck to get its systems in order after the hack — the exchange had been storing customer assets in an internet - connected «hot wallet,» which is something of a security no - no.

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.

Coincheck's president, Koichiro Wada, has said that the company used the less secure wallet «due to technical reasons and understaffing.»

According to McDonald, the vulnerability that made the theft possible had to do with Coincheck's decision to keep the NEM tokens in a hot wallet, which is effectively a storage mechanism connected to the internet.

It is here that otherwise secure cryptocurrencies are being stolen through online exchanges» and wallets» security vulnerabilities, like in the case of Coincheck.

On a Friday morning in late January, the users of Coincheck, a Japan - based cryptocurrency exchange, logged in to find their wallets empty of NEM tokens, a cryptocurrency specialized for payments and other financial services.

Japan's Financial Services Agency told Coincheck to get its systems in order after the hack — the exchange had been storing customer assets in an internet - connected «hot wallet,» which is something of a security no - no.

Coincheck is a Japan - based bitcoin exchange, wallet services and bitcoin lending.

Coincheck said the NEM coins were stored in a «hot wallet» instead of a «cold wallet.»

Japanese exchange Coincheck has confirmed that about $ 533 million - worth of cryptocurrency has been stolen from its digital wallets.

Customers using digital currency wallets like Coincheck can proceed with the payment by scanning the QR code at the checkout portal.

Asia / coincheck / Ethereum / gox / goxxed / Hack / Hard Fork / heist / Japan / Mt Gox / N - Featured / NEM / Theft / Wallets / XEM

Coincheck suffered from a hack on their XEM «hot» wallet.

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.

Some critics point to Coincheck's lack of multi-sig wallets, in which multiple keys are needed to authorize a transaction, as part of the vulnerabilities that facilitated the hack.

Coincheck, a bitcoin wallet and exchange provider based in Tokyo recently announced in a press conference that volume in Bitcoins has surpassed ¥ 541.1 billion, which is 20 times higher as compared to that for the same period last year.

The vice president of the NEM Foundation, Jeff McDonald, also told Bitcoin Magazine that if Coincheck had been using a multisignature wallet, the problem would not have occurred.

Coincheck, a bitcoin wallet and exchange service headquartered in Tokyo, Japan has recently announced new updates to its service including enhanced security when logging into accounts.

Though true in some instances, considering the recent BitGrail exchange failure and Coincheck exchange hack, recommended practices typically include storing cryptocurrency on wallets to which each individual controls his or her own private keys, and opting for hardware wallets for an added security layer.

In their online apology, the operators of Coincheck have admitted that the hacked deposits were in a «hot wallet» (connected to the internet instead of being offline) and that this was due to «staff shortages».

Meanwhile, hackers, who stole more than 520 million NEM from Coincheck's hot wallet in January, seem to have successfully laundered about 40 % of the stolen funds.

BitGrail is the second exchange that lost of massive amount of money this year — and it's only February — following Tokyo - based Coincheck, which lost between $ 400 and $ 534 million worth of coins in a cyberattack on its internet - connected wallet back in January.

Coincheck is a bitcoin wallet and exchange service headquartered in Tokyo, Japan, founded by Koichiro Wada and Yusuke Otsuka.

hotforsecurity.bitdefender.com - Following the recent hack of Japanese exchange service Coincheck, $ 534 million worth of cryptocurrency was stolen from the company's «hot wallet».

Coincheck also stored the 500 million NEM tokens in a hot wallet without multi-sig security, further underlining its failings as a custodian of customers» cryptocurrencies.

As reported previously, Coincheck executives admitted to storing funds in its hot wallet, which was ultimately compromised.

«It was hard for us to manage cold wallets,» Coincheck president Koichiro Wada said in a press conference in the aftermath of the hack, pointing to «technical reasons and understaffing.»

Nicehash, Parity, and to a degree the exchange Coincheck are all recent glaring examples of costs involved in not having the security side of hot, even multi-sig, wallets down.

In the wake of the hack, Coincheck was slammed for storing NEM coins in a «hot wallet,» which is an online wallet.

The group's lawyer, Hiromu Mochizuki, said that they are requesting Coincheck to allow withdrawals to wallets outside of the exchange.

$ 533 million) were taken from Coincheck's digital wallets on Friday, according to new source Asahi.

Coincheck announced on Friday, Jan. 26, that it is suspending all withdrawals after a Ripple payment worth $ 123mln left its wallet as well as a transaction of 500 million NEM (XEM) worth around $ 600 million at the time.

Coincheck exchange hack: 523 mln NEM were stored on a single - signature hot wallet, staff «deeply regret» what happened.

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The need to support Coincheck, especially in light of their commitment to refund affected customers, has been a common sentiment among Japanese crypto community's opinion leaders today, even as they acknowledged the exchange's part in not providing sufficient security for its NEM wallet.

In a press conference held this morning, Coincheck president Koichi Wada confirmed that about 500 million NEM tokens were stolen from the digital wallets maintained by the company.

During a press conference covered by Cointelegraph, Coincheck executives stated that all of the funds were stored in a hot wallet or an online wallet, which left user funds vulnerable to the security breach.

Japanese cryptocurrency exchange Coincheck has suspended all withdrawals as a Ripple payment worth $ 123mln left its wallet Friday, Jan. 26.

The latest is a multi-service bitcoin platform called Coincheck, which offers a wallet, exchange and merchant payment system.

Hours before the Coincheck team admitted to a hacking attack, many members of the cryptocurrency community released evidence that hundreds of millions of dollars worth of NEM were moved from the wallet of Coincheck to external wallets.

Since operations began to shut down, Coincheck's wallet has shifted a one - off sum of 101,265,057 XRP, worth approximately $ 123.5 mln.

According to Coincheck representatives, hackers were able to steal the private key for the exchanges NEM wallet, which was stored in a hot wallet instead of a more secure multi-signature wallet.

One of the major reasons reported for this theft is that Coincheck uses «hot wallets» which remain connected to the network all time.

As part of questionnaires issued in late August, the FSA asked exchange applicants how their assets were distributed in the two types of accounts [cold and hot wallets]... After the company [Coincheck] filed for registration in September, the FSA highlighted the risk of unauthorized accesses taking place in its computer system and urged it to strengthen security.