Coincheck has lost $ 400 million because it was hacked

One of the Japanese digital currency exchanges admitted that they had lost $ 400 million when the system was attacked.

Coincheck says that they have tightened the pickup and delivery of a cryptocurrency named NEM. Bloomberg reported, 500 million NEM coins have been illegally sent from Coincheck, though they do not know how that could happen. Coincheck then suspends transaction processing and withdrawal of cryptocurrency.

Coincheck is trying to track down the recipient of the lost NEM. In a tweet, the exchange said that they were considering compensating people who lost money.

NEM is one of the digital currencies, just like bitcoin, ethereum or litecoin. Based on the number of transactions, NEM is the 8th largest cryptocurrency.

This hack has the same scale as the theft of Mt Gox in 2014. At that time, the thieves managed to get bitcoin seniai US $ 400 million and create a digital currency exchange from Japan bankrupt.

Nevertheless, the economy of cryptocurrency has evolved since then. Therefore, chances are this hacking effect will not be the same as the Mt Gox hack.

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