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   925

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.

Coincheck to Receive FSA License

Coincheck exchange was hacked last January and $ 533000000 worth NEM stolen
11 January 2019   724

The Financial Services Agency of Japan allowed the Coincheck cryptocurrency exchange to continue its work, reports Cointelegraph.

Coincheck exchange was hacked last January. NEM cryptocurrency was stolen in the amount of 58 billion yen ($ 533 million) according to the price of that time. Soon after, the Japanese authorities began to tighten the regulation of the industry, and Coincheck became the property of the online broker Monex.

In December last year, it was reported that the Japanese regulator issued a license to Coincheck, as well as plans to resume the stock exchange. Against the background of these transformations, the marketplace improved the risk management system and gradually resumed the operation of services.