NEM Foundation to Stop Stolen Coincheck Coins Tracking

Organization said it had provided law-enforcement agencies with information from its investigations
22 March 2018   623

NEM.io Foundation, said it stops tracking the funds stolen from the Japanese exchange Coincheck. This is reported by Bitcoin. com

More than 500 million XEM were stolen from Coincheck in January this year. Soon after that, the developers of cryptocurrency provided a solution that allowed to assign the appropriate label to the stolen digital coins to track their further movements.

NEM.io Foundation announced that the information it gathered is sufficient to enable law enforcement agencies to move to more decisive action. The organization refused to explain why it decided to stop conducting its own investigation.

According to the information published in the Japan Times, most of the stolen XEM could already be laundered and, therefore, forever lost for investigation. The withdrawal of funds to other crypto-currencies and fiat takes place through a website in a darkweb, which, according to the information of the technical director of Japan Digital Design, Masanori Kusunoki, is still functioning.

Kasanori argues that it is becoming more difficult to find the stolen Crypto currency. Previously, the NEM.io Foundation reported that the cybercriminals did not attempt to sell the stolen crypto currency.

NEM to Invest $120k in Malaysian Blockchain Startups

NEM in Malaysia will be engaged in the promotion of blockchain start-ups, as well as helping companies integrate DLT into their projects
05 July 2018   154

The NEM.io Foundation has opened a blockchain centre in Malaysia. The company allocated $ 120,000 to develop projects based on DLT in the country. This is reported by Ethereum World News.

The NEM Malaysia Center will be engaged in the promotion of blockchain start-ups, as well as helping companies integrate distributed ledger technology into their projects. NEM.io Foundation hopes to popularize its own XEM cryptocurrency in the region.

The task of the headquarters also includes informing the population about the features of the blockchain.

There is not enough understanding and (not enough) people who know how to use the technology to build up solutions for companies to solve some of the world’s problems. I think the mindset still remains the biggest challenge. For example, people may think it is complicated because of the buzzwords or more specific terms that are used.
 

Stephen Chia

Local Head, NEM.io Foundation

In March NEM.io Foundation and Tech Bureau announced the launch of the closed beta testing of the Catapult engine.