cryptocurrency exchange Japanese company loses 534 million US dollars As a result of its exposure to hacking

Japan on Monday 29 January 2018 imposed administrative measures against Coincheck for the cryptocurrency exchange. After pirates stole hundreds of millions of dollars of its resources in cryptocurrency. NIM, in one of the largest piracy ever.

Japanese cryptocurrency exchange company hacking

Hacking losses Japanese cryptocurrency exchange company

The loss of $ 530 million of the cryptocurrency. According to Friday’s trading value, was the result of the piracy, and Coincheck’s losses. Exceeded MTGox’s losses by stealing $ 480 million from the Bitcoin cryptocurrency in 2014.

Last Friday, Coincheck stopped trading in all cryptocurrencies except for Bitcoin. And announced that it had lost 523 million. Units of the cryptocurrency, “Nim”, which ranks tenth in the ranking of the world’s largest cryptocurrency by market value.

Reaction of Financial Services Agency

In a statement, the Financial Services Agency (FSA) said it ordered Quinchick to investigate the causes of the incident.

Deal “appropriately” with customers, strengthen risk management and take preventive measures.

The agency has given Coincheck until February 13 to comply with orders. Warning that it will search its offices if necessary.

Coincheck said it would use its own funds to offset losses of 46.3 billion yen (about 430 million dollars). At a value of 88.546 yen per person, for all 260,000 lost customers.

The company said it would compensate its customers with yen rather than the encoded virtual currency.

The agency said on Monday it was checking the ability of Coincheck to compensate. Adding that it is checking other trading companies. After the hacking process to detect any potential security risks.

Japanese government spokesman Yoshihidi Suga said the agency would oversee Coincheck to ensure compliance and contract compliance.

As the causes of the incident are discussed and action is taken. We call on the relevant ministries and agencies to urgently examine. The additional measures that we may need,” Suga said.

Japan is some 10,000 enterprises. In Japan are dealing with the cryptocurrencies of Bitcoin and Bitfellair, and the number of users in Japan exceeded one million in November.

I create and develop websites, ues SEO and simple software to create websites and make them cometitive, my goal is to help all the owners sites

Related Posts

tools in Facebook Ads Manager

Future of Retargeting: Re-Engage with Facebook Ads in 2024

As we advance into 2024, retargeting strategies are becoming increasingly sophisticated, enabling businesses to maintain engagement with their customers more effectively. Retargeting, a technique that focuses on…

Trading Strategies for BPRIVA on MEXC

Maximizing Profits: Trading Strategies for BPRIVA on MEXC

Introduction In the fast-paced world of cryptocurrency trading, identifying and implementing effective strategies is crucial for maximizing profits. This article will focus on trading strategies specifically for…

How to Track ETH Price in USD: Tools and Tips

Introduction to Ethereum Price Tracking Ethereum (ETH) is one of the most significant cryptocurrencies in the digital finance world. Its utility in various decentralized applications and smart…

Navigating Regulatory Challenges in Digital Healthcare

The digital healthcare world is growing fast. It brings new digital healthcare solutions, digital healthcare tech, and digital health innovation. This change aims to make healthcare better….

Optimize Your Vehicle’s Performance with Advanced Car Suspension Parts

Optimize Your Vehicle’s Performance with Advanced Car Suspension Parts At ATOMIC-SHOP, we understand the critical role that a high-quality car suspension system plays in vehicle performance. Our…

LUNA Coin Price Prediction for 2024: Insights for Vietnamese Investors on MEXC

Introduction: Why LUNA Coin is Gaining Attention in Vietnam In recent years, Vietnam has witnessed a burgeoning interest in cryptocurrency investments, with LUNA Coin emerging as a…

error: Content is protected !!