Coincheck hack
The Japanese exchange Coincheck lost about 523M NEM tokens (~$530M) to attackers in January 2018 — then one of the largest crypto thefts. The coins had been stored in an internet-connected hot wallet; Coincheck pledged to reimburse affected users.
Also known as: Coincheck, NEM hack
Summary
In January 2018, the Tokyo-based exchange Coincheck reported that about 523 million NEM (XEM) tokens — worth roughly $530 million at the time — had been stolen, making it one of the largest cryptocurrency thefts to that point. [1][2]
Cause and response
Reporting indicated the affected NEM had been held in an internet-connected "hot" wallet rather than more secure cold storage, and that security measures such as multisignature had not been applied. Coincheck pledged to reimburse affected customers and was later acquired by Monex Group; Japan's Financial Services Agency increased scrutiny of domestic exchanges. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (2)
See also
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)TokensA 2017–2018 ICO (BCT tokens, ~$30M) for a 'Blockchain Terminal' — a Bloomberg-style crypto trading terminal. The SEC and DOJ said convicted ex-hedge-funder Boaz Manor secretly ran it under a fake identity ('Shaun MacDonald'), using associate Edith Pardo as a front, and lied about the product's adoption.
- Crowd Machine (CMCT)Tokens
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