$ 600 MILLION OF XEM (NEM) WOULD HAVE BEEN DAMAGED ON THE JAPANESE COINCHECK PLATFORM
600 million XEM would have been removed from the Japanese Coincheck platform. It is impossible to know with certainty if it is a piracy. The company has decided to temporarily stop withdrawals.
Coincheck, one of Japan's leading digital currency trading platforms, may have been hacked, while the equivalent of $ 600 million worth of XEM (the NEM cryptocurrency) was suddenly removed that night.
The platform decided, in the process, to freeze deposits and withdrawals, to shed light on this incident.
This event reminds holders of cryptocurrencies that it is not prudent to "stock" its assets on an exchange platform - and that it is better to transfer them to "personal" wallets, in order to benefit from optimal security.
Because these platforms can now store billions of dollars of assets - assets that will arouse the envy of many hackers.
We also know that some South Korean sites were recently victims of attacks by North Korean pirates - including $ 7 million stolen from the Bithumb platform in February 2017. And more recently, the website YouBit had to resolve to declare bankruptcy, after a similar attack caused the loss of some of the assets he retained for his clients.
A drop in XEM:
The NEM network is similar, in some respects, to Ethereum. It offers a platform for "Smart Asset System", which allows to set up "smart contracts"
While this attack was not carried out against the NEM blockchain - but against Coincheck, who probably did not secure one of his NEM wallets well enough - there was a sudden drop in the price of the NEM blockchain. active.
It is possible that some local investors wanted to quickly get rid of their XEMs, causing a sharp drop in the price of assets.
We remember that the popularity of Japanese trading platforms rose sharply last year, after the government gave its blessing to Bitcoin, deciding in April to grant it the status of legal tender.