NEM Refuted Coincheck's Stolen Funds Withdrawal Info

According to NEM Foundation, they are using NEM’s tagging system in order track stolen coins
01 February 2018   542

About 500 million XEM tokens ($ 533 million), stolen from the accounts of the Japanese cryptoexchange Coincheck, were not transferred to other sites. Also, hackers have not yet tried to sell coins, according to the NEM Foundation blog.

We are closely monitoring the stolen funds. Some small amounts, under $100 USD each, have been moved to several accounts. NEM’s tagging system is working to track how funds are moved. None of the stolen funds have been sent to any exchanges. As long as those funds are off public exchanges they will be very difficult to liquidate, especially in large amounts.

NEM Foundation

Earlier, Reuters reported that the attackers of Coincheck tried to move the stolen cryptocurrency funds.

[The hackers are] trying to spend them on multiple exchanges. We are contacting those exchanges.

Jeff McDonald
Vice President, NEM

On January 25, the bitcoin-exchange Coincheck confirmed the theft of more than half a billion dollars in the NEM currency. Later, the site promised to pay $ 400 million to affected customers. In addition, the financial services agency of Japan will begin checking the rest of the country's bitcoin exchanges after the Coincheck platform has been hacked.

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   264

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,

Unibright already cooperates with Lufthansa.