Japanese Lost $6M Due to Crypto Hacks in 2017

At least 149 cases of hacking emerged last year; 16 exchanges affected
22 March 2018   554

About $ 6.2 million in the cryptocurrency were stolen from Japanese exchanges and other services last year. This is reported by the Nikkei.

According to him, the National Police Agency published its first annual report on the topic of the Crypto-Currency on Thursday.

The report refers to 149 registered thefts. Users of 16 exchanges and 3 wallets suffered from thefts, lost about 662 million yen. The main goal of intruders was bitcoin. In total, 85 bitcoins were stolen during this period.

The agency does not specify the names of the affected exchanges and services, but notes that during the calculations it did not take into account the theft of 500 million NEMs from the Coincheck this year.

In 122 cases, which account for 80% of the lost funds, additional security measures were not used, such as two-factor authentication, the report says.

The increase in the activity of malefactors coincided with the rise of bitcoin and other crypto-currencies. So, in April, 7 thefts were registered, in May - 19, and in June - 41.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   108

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.