Tokyo: Several Countries Investigating Recent Cryptocurrency Heist

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In Tokyo, several authorities in different countries are investigating the recent USD $530 million heist concerning the NEM cryptocurrency.

A member of the Singapore-based NEM Foundation, Takao Asayama, stated that it is collaborating with exchanges in order to block the hackers from cashing out the stolen virtual currency.

Japanese authorities have also stated that they will investigate all cryptocurrency exchanges in Japan for gaps in security and also have ordered Tokyo-based Coincheck to boost its standards of security.

Japan’s Financial Services Agency (FSA) radied Coincheck following the heist which impacted approximiately 260,000 Coincheck customers. The business has stated that it will reimburse their customers with yen however questions arise as to how Coincheck will do this due to the level of funds.

According to sources, the foundation has confirmed the transfer of some of the stolen currency to two exchanges as it appears that the function of the transactions was not about moving the coins but to test the tracking system.