$530 Million Dollar Heist On Crypto Exchange
Picture Owned by CoinTelegraph
One of the biggest heist to happen on a cryptocurrency exchange has happened on Coin check. The exchange company is expected to file to regulators about the $530 Million robbery. Hackers have managed to steal millions work of NEM tokens so Coin Check was forced to freeze accounts and postpone its services and is now facing possible lawsuits. The Financial Services Agency ordered Coin check to raise its standards after the attack, and gave the exchange until Feb. 13 to submit a report on the robbery. This robbery has certainly made history with out a doubt. At least 10 investors who were using the cryptocurrency exchange are planning to file a lawsuit with Tokyo's District Court on Thursday. You can find out more about the case on twitter which will be represented by Hiromu Mochizuki. We are yet to hear from coin check but they are said to be working on resolving this security issue that is a major flaw in the system that did not help stop hackers from getting their hands on over a million NEM tokens. Their team are currently working on the base and breach of the security.
Ten cryptocurrency traders will file a lawsuit at the Tokyo District Court on Thursday, 02/15/2018, against crypto exchange Coincheck over the company’s freezing of crypto withdrawals. The Japanese cryptocurrency exchange had frozen all withdrawals after they lost $530 million in NEM tokens in a hack last month. In all honesty these attacks are not helping out with the on going battle of cryptocurrency regulations. What do you think?
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