The Japanese cryptocurrency exchange Coincheck has suspended all of their deposits and withdrawals of NEM. They have reported that their platform has been hacked and transfers should not be made til further notice. Coincheck is one of Japan’s largest cryptocurrency exchanges, all though unlike other popular Japanese exchanges like bitFlyer and Quoine, Coincheck is not registered with Japan’s Financial Services Agency there for unregulated.
The Coincheck team announced,
“All withdrawals from the platform are currently restricted, including JPY. Thank you for your understanding. We are doing our utmost to resume normal operations as soon as possible”
It is reported that approximately $500 million worth of NEM have been fraudulently transferred out of Coincheck’s wallet. NEM Foundation president Lon Wong has called the hacking “the biggest theft in the history of the world.” The amount stolen even surpasses the amount lost during the Mt.Gox hack. There have been no leads as of yet.
Coincheck has reported the stolen funds to the Financial Services Agency and their local police. All deposits and withdrawals are suspended til further notice.