As a result of the hacking of the Coincheck Exchange, NEM stolen by $ 530 million

As the Japanese source MineCC reports, the management of the crypto exchange Coincheck officially announced the breaking and stealing of NEM tokens by 532 million dollars. While it remains unclear whether other crypto-currencies were stolen.

Developers NEM and the community of open source developers have confirmed that there will not be a hardfire for the restoration of lost funds. NEM Foundation President Lon Wong said that there should be no complaints against NEM, and laid overall responsibility for the incident at Coincheck.

After breaking the largest Japanese stock exchange Coincheck announced the suspension of a number of services, including withdrawal of funds in all crypto and fiat currencies, including the Japanese yen. The suspension began when the exchange disconnected the possibility of replenishing the NEM crypto currency purses, which it announced at 04:00 UTC. After 30 minutes, it was announced the ban on bidding NEM, the withdrawal of this crypto currency, and then the withdrawal of all the crypto and even the money of the fiat.

Nevertheless, at a press conference held in the afternoon, CEO Coincheck said that the exchange will not close and will soon put all the operations on hold. Plans to compensate for user losses, he did not sound.
In addition, after a while there was information about the theft of 101,265,057 XRP for $ 123.5 million, but the CEO of the exchange at a press conference did not confirm it. Thus, the total losses of the exchange amounted to about 532 million dollars at the rate at the time of the robbery, and 400 million at the time of publication.

Breaking Coincheck to date can be considered the largest robbery in the history of the Crypto-currency when recalculating to the dollar. For example, the collapse of the MtGox exchange in 2014 caused losses of about $ 480 million (850,000 BTC), and Bitfinex breaking in August 2016 - about $ 72 million (120,000 BTC). On the other hand, you can take a different starting point. When recalculating to the bitcoin rate, Coincheck's losses amounted to less than 50,000 BTC, that is, significantly less losses on Bitfinex, not to mention MtGox.

Despite the developers' claims, the NEM token rate began to decline immediately after Coincheck published its initial announcement, and at the time of publication it fell by 15%. The rate of XRP fell by 9%, to $ 1.20

It should also be noted that Coincheck is not registered with the Financial Services Agency of Japan (FSA). and plans to begin this procedure only now.