Stealing Bitcoin And Loss On The Stock Exchange
Hello guys,
Coincheck has made history and not in a positive sense. A reference point in Japan for the exchange of cryptocurrencies, the platform lost about 430 million euros (equivalent to 58 billion yen) due to a hacker attack. According to the Japanese newspaper Asahi Shinbun, the theft is the biggest in the history of cryptocurrencies.
Loss On The Stock Exchange
The loss is a direct result of a hacker attack on the Nem digital money exchange platform that took place in the early hours of Friday, and discovered only in the afternoon, eight hours after the incident. The coins were kept in what is commonly called a hot wallet, a digital currency store connected to the internet in order to make quick and easy expenses. It is not easy to determine exactly the value of the spoils, due to the high volatility of the cryptocurrency, but Coincheck may have lost more than did Mt. Gox, another exchange platform, a few years ago. It is not clear if the managers will be able to repay investors. The Ansa news agency reports that there may be problems in covering losses. Coincheck's managers have stated that they want to reimburse users, but they do not yet know the timing of this operation. It emerges that the Japan Financial Services Agency had already recalled the company for security breaches. Coincheck's managers have decided to block all cryptocurrency trading, contributing to the collapse of Nem quotations on trading platforms up to 15%. In Japan, another record-breaking theft of Mt. Gox, which was based in the famous Shibuya district, was scored in 2014. At the time, the company lost between 400 and 480 million dollars, prompting Japanese lawmakers to enact a law to regulate bitcoin exchanges. Despite the impressive amount, the attack on Coincheck did not affect the Japanese market as it happened four years ago, because then Mt. Gox managed well 80% of the cryptocurrencies circulating nationwide, in a period when they were not yet very well known . In that case users did not get back the money invested.
