50% of Stolen Coincheck's Coins Can Be Laundred Already

Expert believes that hackers involved in the Coincheck heist earlier may have successfully converted half of the stolen NEM into other cryptocoins
19 March 2018   603

Hackers who participated in the large-scale theft of Coincheck used "dark web" to withdraw stolen funds. According to experts on cybersecurity, hackers created a website in the "dark web", which began trading in crypto-currencies on February 7. By this point, perhaps, already half of the stolen money has been withdrawn by the kidnappers in this way. This is reported by Bitcoinist.

At the same time, the site immediately began converting NEM coins and continues to this day. The Singapore NEM Foundation is constantly working to track stolen NEMs, mainly by marking accounts that are supposed to be used for illegal transactions.

The exchangers sent requests with the requirements of the deviation of transactions from the marked accounts.

It has become evident we cannot block currency laundering just because all transactions are recorded. Exchange operators need to make prior agreements on the handling of stolen virtual coins.

Masanori Kusunoki

Chief Technology Officer, Japan Digital Design Inc

Masanori Kusunoki said this while the BIG Blockchain Intelligence Group stated that its Forensic and Inquiry Department followed transactions with stolen coins to an exchanger in Vancouver. The results of its activities BIG Blockchain Intelligence Group will send to the police of Canada and the United States.

Unibright and NEM to Join Forces

Result of the partnership should be the creation of the possibility of generating NEM-oriented code in the Unibright framework
09 August 2018   263

The platform for integrating the blockchain into the business processes Unibright and the NEM Foundation announced a strategic partnership.

Representatives of the team Unibright said that the result of the partnership should be the creation of the possibility of generating NEM-oriented code in the Unibright framework and joining Unibright to the NEMsp service partnership program.

In addition, the partnership suggests:

  • adding NEM as a target of Unibrights automatic blockchain code generation
  • adding NEM adapters to Unibright’s integration plattform to connect NEM architectures to existing IT landscapes
  • qualifying Unibright as an official NEM Service Partner by training and certification through the Global NEMsp Network.
  • working together on common customer projects, case studies and proof of concepts with industry partners and clients

The NEMsp Network is a scalable and repeatable program designed to expedite the adoption of NEM globally while creating value for our partners. Companies won’t need to have any internal technical staff to be able to build on the NEM Blockchain because a project can be completely developed and deployed by a NEMsp. Unibright puts that development on an even higher level by generating code automatically, and thus are a perfect fit to the NEMsp network. We look forward to a long and mutually beneficial relationship with Unibright.

Kristof Van de Rek

Interim President, NEM.io

Unibright already cooperates with Lufthansa.