Japan announces punishment for crypto theft!

Hackers have stolen digital assets worth nearly half billion euros. Now probably stock exchange operator will be responsible.

Japanese authorities announced a penalty against crypto exchange coincheck, which is worth about 430 million euros. Financial market regulators would announce the punishment this Monday.

Coincheck is one of the largest trading tools for digital assets and the damage of 58 billion Yen is one of the largest hackers ever in sector. Coincheck suspended the payout of almost all crypto systems after the incident on Friday. On Sunday, stock market announced that it would pay 260,000 affected customers for big loss.


According to insiders, regulators warned Japan’s nearly 30 crypto-exchange operators about possible further hacker attacks on Sunday. And they also asked for higher security measures.

After the theft, Coincheck said that NEM-type coins were stored in a so-called “hot wallet” rather than a safe “cold wallet” outside the Internet.

In 2014, cyber attack drove Mt. Gox, once the most important Bitcoin trading center, to bankruptcy. At that time, about 850,000 Bitcoins disappeared.

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Categories: Crypto Currency

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