Author Topic: Hackers Stole $400 Million from Cryptocurrency Exchange  (Read 373 times)

Offline Zeus

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Hackers Stole $400 Million from Cryptocurrency Exchange
« on: January 28, 2018, 10:46:36 pm »
If you use a cryptocurrency exchange, you should really think long and hard about how much real money you invest in this artificial money. There is no doubt that people can get and have gotten rich from this latest craze, but there are drawbacks. One of these of course is also the greatest strength - it's untraceable. That means that it is a huge target for hackers and just recently another $400 million was stolen from Coincheck - a Crytocurrency exchange. That's a pretty big win for hackers, and a big loss for the exchange. I got to hand it to Coincheck though, they actually are covering the loss. The affected currency was not Bitcoin, it was called NEM, but the same principles apply. Be careful with your real money.

   One of Japan’s largest cryptocurrency exchanges has revealed that it’s lost nearly $400 million in a security breach. Coincheck says that it has restricted deposits and withdrawals for a cryptocurrency called NEM, and Bloomberg reports that 500 million NEM tokens have been sent from the company “illicitly,” and that it’s not sure how.Source(s): TheVerge, Neowin

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