White Hat Hackers to Search Crypto Stolen from Coincheck

The hackers helped to investigate the theft from the Tokyo-based exchange
22 February 2018   709

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

Coincheck to Receive FSA License

Coincheck exchange was hacked last January and $ 533000000 worth NEM stolen
11 January 2019   159

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.