Investment.net

Banner ads header
Icon Collap
...

Investment.net

Home / HACKERS STEAL MORE THAN $500MM FROM CRYTO CURRENCY EXCHANGE

HACKERS STEAL MORE THAN $500MM FROM CRYTO CURRENCY EXCHANGE

 

Japanese authorities have raided virtual currency exchange Coincheck, a week after the Tokyo-based firm lost $530 million in cryptocurrency to hackers.

The January 26 hack of the exchange, which saw more than 523 million units of the cryptocurrency NEM dissapear, exceeds the $480 million stolen in 2014 from MtGox, another Japanese virtual currency exchange.

Japanese officials have suggested repeatedly that Coincheck lacked proper security measures, making itself vulnerable to the theft.

The raid comes as bitcoin dipped below $9,000 for the first time since November after India said Thursday it would take measures to prevent the use of cryptocurrencies.

The search of Coincheck's headquarters in Tokyo's Shibuya district was carried out by the Financial Services Agency, which had already slapped the company with an administrative order following the hack.

"We have launched an on-site inspection to ensure preservation of clients' assets," Finance Minister Taro Aso said at a briefing.