White Hat Hackers to Search Crypto Stolen from Coincheck

The hackers helped to investigate the theft from the Tokyo-based exchange
22 February 2018   385

The White hat hackers have assisted authorities and encouraged others to join in providing aid. One of the hackers, known by the Twitter handle JK17 managed to identify the accounts that the stolen money was sent to shortly after the breach.

The NEM foundation was informed about that. Currently, the accounts has been marked and are being monitored. At the moment, the crypto have been moved to over 400 accounts including some owned by innocent holders. It was made in order to confuse trackers.

According to the report, more white hats hackers join the investigation. The hackers have been highly effective in locating and flagging the accounts where the stolen NEM has been moved to. Unfortunately, the owners of the accounts are not identified.

Police are trying to analyze access logs in Coincheck’s system in an attempt to identify the culprits but this process needs a lot of time. It is believed that, the stolen crypto have been exchanged for Bitcoin and other cryptocurrencies using the dark web.

However, the hacker’s help seems to be a positive side of this controversial sphere.

The incident has created a negative image of virtual currencies, but I believe they can make a huge difference in the way we transmit data and handle business.

White hat hacker

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   157

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.