The Tokyo - based cryptocurrency exchange Coincheck is reportedly «considering a capital tie - up to strengthen its financial base and regain trust following a
massive cryptocurrency theft from the exchange in a hacking incident about a month ago,» Jiji Press reported, citing an informed source.
As CCN reported, those tokens were worth $ 530 million at the time of the hack, making it the single - largest
cryptocurrency theft in history, as measured by USD value.
Just yesterday it was reported that Tokyo - based digital currency exchange Coincheck had been hacked, resulting in the theft of $ 530 million worth of NEM, and making it the
biggest cryptocurrency theft in history.
The regulator added that cryptocurrencies currently only trigger potentially harmful side effects such as market manipulation, fraud, heightened speculative trading, illegal practices of capital funds raising, and cybercrimes associated
with cryptocurrency theft.
According to the report, talks toward a self - regulatory body were fast - tracked following last month's infamous hack of cryptocurrency exchange Coincheck, now seen as the biggest
cryptocurrency theft ever.
... [Read more...] about Japan increases vigilance after a massive cryptocurrency theft
This marks the
largest cryptocurrency theft in history, surpassing the 2014 hack of MtGox — a Tokyo - based exchange that collapsed after losing $ 400 million.
Suspicious communications between Tokyo - based Coincheck and servers outside Japan went on for weeks before a $ 542 million
cryptocurrency theft, a new finding suggests.
Latest Crypto News: On Sunday, Gujarat cops recorded
a cryptocurrency theft of Ethereum after a city - based businessman filed a complaint with Anandnagar police for the theft of data worth Rs 20 lakh using an access key.
This means that the Coincheck hack was worth close to a fourth of
all cryptocurrency theft by value from 2011 to 2018.
Even as other Asian nations pull back, the world's two largest
cryptocurrency thefts haven't turned Tokyo off the blockchain phenomenon
Cryptocurrency theft has become a major security issue in Japan, part of the growing cybercrime trend.
The report written stated that «North Korean threat actors have prior experience in assembling and managing botnets, bitcoin mining, and
cryptocurrency theft, as well as in custom altering publicly available malware; three elements that would be key to effectively creating and managing a network of covert cryptocurrency miners.»