Coincheck earned $490 Mln Gains reaching Japan’s Top Mark

Japanese crypto exchange Coincheck earned ¥53.2 bln (about $490 mln) in the ten months between April 2017 and January 2018, the month of its incredible hack
27 April 2018   912

By comparison, the operator of Japan’s major stock and derivatives markets, Japan Exchange Group, acquired ¥71.8 bln ($657 mln) in the fiscal year completing in March 2018, enforcing the traditional exchange’s profits roughly on par with those of Coincheck.

Coincheck was purchased by Money Group Inc. as a wholly possessed subsidiary on April 16, 2018, when Coincheck solved to reconsider its stakeholder structure and management after $532 mln worth of NEM was pilfered from its wallets in January 2018.

According to the estimate given by Monex Group, Coincheck recorded a mammoth writedown of ¥47.2 bln ($432 mln) for the fiscal year ending in March as a refund to its clients touched by the hack, yet nevertheless this “extraordinary loss” of funds, Coincheck still finished the fiscal year in the green, netting ¥6.3 bln proceeds on sales of ¥62.6 bln. Monex Group affirms that in the next fiscal year it will “focus on enhancing governance and internal control with the aim to register [Coincheck] as a cryptocurrency exchange.”

Japan’s Financial Services Agency (FSA) in February 2018 directed all registered and unregistered domestic crypto exchanges in order to submit a risk management system official report in the beginning of the Coincheck hack, which Coincheck itself filed on February 13. All unregistered crypto exchanges of Japan are being checked to on-site FSA inspections, as strengthened scrutiny from regulatory bodies gathers international momentum.

China to Finance Hacker Attacks on Exchanges, - FireEye

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period
08 August 2019   258

The hacker group APT41 attacks companies in the areas of healthcare, telecommunications, fintech, media, and cryptocurrency exchanges. This activity is funded by the Chinese government, according to analysts of cybersecurity company FireEye.

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period.

Industries Targeted by APT41
Industries Targeted by APT41

At the same time, APT41 pursues its own goals, extracting financial benefits from attacks, which is unusual for other groups under the Chinese government, according to FireEye.

APT41 is known to include at least two people with the pseudonyms Chzan Xuiguan and Wolfji. The group probably has connections with other hacker organizations like BARIUM and Winnti.

FireEye also evaluated at what time of the day the APT41 attacked the gaming industry (its core target) and businesses from other areas. It turned out that this was happening outside the framework of a standard working day - probably these people, among other things, have the main job.

APT41 Operational Times
APT41 Operational Times

According to the UN Security Council, hackers under the DPRK government stole about $ 2 billion from banking institutions and cryptocurrency exchanges.