Sunday, August 19, 2018
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Crypto Exchange Coincheck Hacked, Biggest Heist Ever

In what appears to be the biggest Crypto heist in history, Japanese cryptocurrency exchange Coincheck has been hacked for $655 million. Coincheck handles about 3% of the total cryptocurrency transactions. The heist, which seems to be particular to the NEM cryptocurrency took $532 million from the exchanges wallets.

This news comes after Coincheck halted all NEM transactions on its exchange without any warning, which raised red flags to NEM investors and Coincheck users. It has also been reported that an additional $123 million worth of Ripple cryptocurrency has been taken.

As of right now Coincheck has issued an update saying that “Depositing NEM on Coincheck is currently being restricted. Deposits made to your account will not be reflected in your balance, and we advise all users to refrain from making deposits until the restriction has been lifted”.

So there is no official confirmation of the heist, although Nikkei is reporting that Coincheck has reported the theft to the local Financial Services Agency and the police.

If confirmed this could easily be the largest heist in the world’s history, obviously the largest crypto heist as well.

You can follow Coincheck’s updates here.

Bob Buskirk
the authorBob Buskirk
About 10 years of computer experience. Been messing around with electronics since I was 5, got into computers when I was in highschool, been modding them ever since then. Very interested in how things work and their design.
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