![]() ![]() Gox incident that resulted in 850,000 Bitcoins-then valued at about $450 million-being stolen.ĭespite the amount of cryptocurrency stolen in the Coincheck incident, it seems unlikely it will have the same effect on the market as the Mt. In terms of sheer volume, the Coincheck breach represents the largest hack in the history of cryptocurrency, topping even the infamous Mt. Since the announcement of the breach, the volume of NEM tokens have dropped back below the $1 mark. By 2018, the token was valued at over $1 and peaked at about $1.90 on January 4. NEM tokens first launched in 2015 and traded for fractions of a penny until 2017 when it began to gain more steam as other cryptocurrencies began to rise. “But we are doing everything we can to help.” Wong also rejected a suggestion that the company should fork its NEM blockchain to freeze the stolen funds. “It's unfortunate that coincheck got hacked,” Wong said. Lon Wong, the president of blockchain company NEM that issued the NEM tokens, took to Twitter to respond to the incident. According to local reports, Coincheck executives confirmed that about 58 billion yen (about $533 million) worth of NEM tokens were stolen from the platform-though the company admitted to not knowing the full extent of the breach yet.Ĭoincheck executives said they were exploring possible ways to offer compensation for affected customers, though details on how that compensation will be offered and to what extent it will cover the losses is yet to be seen. ![]() ![]() It wasn’t until Friday evening local time that the company held a press conference to confirm it fell victim to a hack. Subsequent updates that included halting all withdrawals from the platform. Coincheck first announced it was restricting the trade of NEM tokens but did not provide any additional details at the time. ![]()
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