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Cyber Security

Coincheck Loses $500 Million in Biggest Cryptocoin Hack Ever

Japanese cryptocurrency exchange Coincheck announced today that it lost over 500 million NEM tokens, worth over $500 million. The company admitted to being hacked earlier today in a conference with local media. Officials are currently pondering a method of compensating some of the users who suffered losses. NEM trading price dropped from $1 to $0.8 following the hack announcement. It is believed the hacker stole almost 7% of all NEM token tokens currently in circulation. Kaspersky researcher Costin Raiu also pointed out earlier today that the exchange also moved $110 million worth of Ripple (XRP) cryptocurrency after the hack.

Source: https://www.bleepingcomputer.com/news/cryptocurrency/coincheck-loses-500-million-in-biggest-cryptocoin-hack-ever/

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