

Thieves syphoned away 523 million units of the cryptocurrency NEM from Coincheck during the January 26 hack, exceeding the $480 million in virtual currency stolen in 2014 from another Japanese exchange, MtGox. In total, CoinCheck hackers laid their hands on 560 million XEM coins, worth around 400 million. In the wake of the theft, the country's Financial Services Agency instructed more than a dozen local exchanges to submit reports on their efforts to monitor systemic risks. Japanese officials have suggested Coincheck lacked proper security measures, leaving itself vulnerable to theft. Plaintiffs are demanding the reimbursement of their digital cash and also considering calling for compensation for the drop in their assets' value while withdrawals were halted. On Tuesday, Coincheck said it had resumed operations for withdrawals denominated in Japanese yen but has still frozen withdrawals of a dozen different kinds of cryptocurrencies.


"Plaintiffs are demanding Coincheck return their cryptocurrencies-13 different kinds including NEM," Mochizuki said. The company has pledged to reimburse about $400 million to all 260,000 customers who lost their holdings of NEM, the 10th biggest cryptocurrency by market capitalisation.Ĭoincheck halted operations after the hack and prevented traders from withdrawing their virtual currency from the exchange-a decision that left those assets in limbo while the cryptocurrency markets continued to move.

The hack of Coincheck-resulting in the disappearance of NEM cryptocurrency worth $530 million-was one of the largest of its kind, and prompted authorities to search the firm's office earlier this month, after slapping it with an administrative order. Binance was able to recover $5.8 million of the stolen funds a month later, but it would still be the largest hack in history.Seven people took part in the lawsuit filed at the Tokyo District Court, plaintiffs' lawyer Hiromu Mochizuki told AFP before the filing. Bitmart promised to use its own money to reimburse users and claims the hack is worth 150 million. 5 December 2021 Bitmart Reportedly, close to 200 million worth of crypto was stolen in this hack according to security firm Peckshield. officials said that a North Korean state-backed hacking collective, Lazarus Group, was linked to the theft. Coins and tokens stolen include USDT, USDC, TARA, SHIB, AAVE, COMP. Another is the Coincheck attack in 2018, which saw roughly 530 million stolen, making it the biggest crypto heist ever until the Poly Network incident this year, according to Comparitech’s. Hackers breached the Ronin Network and made off with around $625 million worth of Ethereum and the USDC stablecoin. The largest cryptocurrency hack to date was conducted in March 2022 and targeted the network that supports the popular Axie Infinity blockchain gaming platform.
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