The popularity of cryptocurrencies like Bitcoin and Ethereum is a profitable target for cybercriminals. About 4,700 bitcoins were stolen, the equivalent of US$64 million. In December 2017, NiceHash, a Slovenia-based cryptocurrency-mining marketplace suffered a data breach where hackers stole the contents of its Bitcoin wallet. These recent incidents are certainly not new, and there have been a number of notable incidents involving different methods to steal cryptocurrency over the past year. Experty said it would give 100 EXY tokens, or the equivalent of US$120, to every person in their email database, but users who sent Ethereum to the hackers' account will not get their money back nor will they receive complimentary EXY tokens. Moreover, a statement from Experty and Bitcoin Suisse said that the hacker got hold of the email list by compromising the computer of one of the people who carried out Experty’s Proof-of-Care review. Experty and Bitcoin Suisse have sent out warnings to users not to send money to the wallet address in the email sent by the hacker. The hacker made off with a presumed $150,000 or more from 71 transactions. An ICO is similar to an Initial Public Offering (IPO), but instead of stocks, the buyer receive tokens in an online platform. The Ethereum wallet address that the perpetrator sent isn’t associated with Experty, who previously announced that they would only handle sales of tokens through Bitcoin Suisse AG, a regulated crypto-financial broker based in Switzerland. The actual Experty ICO is slated on January 31. The hacker sent emails with a false pre-ICO sale announcement of Experty tokens to users who signed up for notifications. On January 26 and 27, a hacker tricked Experty ICO (Initial Coin Offering) participants into sending Ethereum funds to the wrong wallet address. As of this writing, Coincheck is working with Japan’s Financial Services Agency to investigate the cause of the missing tokens. The heist affected about 260,000 users, but Coincheck said that the affected users will be repaid in Japanese Yen through the Coincheck Wallet. It abruptly froze most of its services, including deposits, withdrawals, and trade of almost all other cryptocurrencies except Bitcoin. The hack affected Bitcoin's value, resulting in a 5 percent drop on the morning of January 26.Ĭoincheck confirmed the incident in a blog post, but did not explain how the tokens were stolen. Two recent incidents of cryptocurrency theft has affected the price of Bitcoin, resulting in losses for initial coin offering (ICO) investors.įirst, Tokyo-based cryptocurrency exchange Coincheck suffered the biggest hack in the history of cryptocurrencies after the exchange lost $532 million in digital assets, or about $420 million in NEM tokens.
This incident had unnerved J apan, the first country to regulate cryptocurrencies by requiring all crypto exchanges to be legally registered.While cryptocurrency is gaining popularity as an investment vessel, recent reports of losses prove that Bitcoin, Ethereum, and its other equivalents are still volatile. The Coincheck heist emphasized the risks with which policymakers are confronted with when regulating cryptocurrency trading. Because of this the Financial Services Agency requested the company to improve risk management and avert further criminal use of crypto assets. In January, Coincheck was hit by one of the biggest cryptocurrency hacks ever. The broker will also be able to join other online brokerages such as GMO Internet Inc and Money Partners Group.Ĭhief Executive at Coincheck, Koichiro Wada and another executive will be replaced, the Nikkei stated, saying that Coincheck and Monex have already presented their plans to regulators and main investors. This partnership would give Monex access to Coincheck’s customer base, which saw an increase in numbers as the cryptocurrency market got a lot of exposure last year. The company did not give any further details but the Nikkei Daily reported on Tuesday that the deal could represent “several billion yen” in value and that an announcement will come up this week.Ĭoincheck representatives stated in an email that Nikkei’s report on the matter was not what the company planned on announcing.
Since this announcement, Monex shares have increased by 23% by the daily limit to 424 yen in Tokyo. Monex Group Inc, a Japan- based online broker announced on Tuesday that it was considering buying Coincheck Inc, a local cryptocurrency exchange which lost $530 million in a high –profile theft earlier this year.
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