Items tagged with nem

A cryptocurrency exchange in Japan is ponying up hundreds of millions of dollars out of its own pocket to compensate customers who had their NEM tokens stolen last week. The theft is believed to be the largest ever in the cryptocurrency community, with hackers plundering 523 million NEM coins worth anywhere from $400 million to $600 million, according to estimates based on different values. Coincheck initially halted trading of all tokens except Bitcoin after the theft occurred. At the time, Coincheck co-founder Yusuke Otsuka said the exchange was investigation the hack, with hopes of figuring out where exactly the stolen coins ended up. "We know where the funds were sent. We are tracing them... Read more...
A cryptocurrency exchange in Asia called Coincheck has announced that it was the victim of a massive hack that saw hundreds of millions of dollars worth of cryptocurrency stolen in what is the largest heist of its kind in history. Coincheck doesn't call the heist a hack, it says that the coins were sent illicitly outside of the service. The cryptocurrency stolen is called NEM, which is the tenth largest cryptocurrency in market value. In total there were 500 million NEM tokens taken in the heist worth about $400 million, according to Bloomberg. However, Cointelegrpah reports a much higher number, claiming that 523 million NEM coins were taken with a market value of approximately $534 million.... Read more...