Bitcoin Forum

$530 million cryptocurrency heist may be biggest ever.

 cryptocurrency exchange in Japan is coming under government scrutiny after it said hackers stole $530 million from its users.
The exchange, Coincheck, has promised to partially refund the 260,000 cryptocurrency investors affected by the theft, although it didn't say when it would do so or where it's getting the money from.

The hacking at Coincheck, which bills itself on its website as "the leading bitcoin and cryptocurrency exchange in Asia," came to light over the weekend. If confirmed, it's expected to rank as the biggest such theft on record, eclipsing the estimated $400 million in bitcoin stolen from Mt Gox in 2014.

Coincheck said the hackers stole customer deposits of NEM, a less well known digital currency.

The exchange promised to use cash from its own funds to pay out ¥46.3 billion ($426 million) toward covering its users' losses. That's about 20% less than the total value of the virtual tokens that were stolen.

Full article here: http://money.cnn.com/2018/01/29/technology/coincheck-cryptocurrency-exchange-hack-japan/index.html

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I came across some friends who are still not aware of the Cryptocurrencies, wallets, how to buy and how to sell. Please make sure you get proper knowledge before you start. Deal with the people whom you can trust.

Crypto currency is the future but the owner have to be careful about storage, transfer, trading etc.

If anyone want guidance or have questions feel free to write here or PM.

It is not advisable to keep the coins on exchanges if you are looking to hold them for longer time. Its always better to keep the coins at the wallet for which you hold the private key. Only coins required for trading should be keep on exchanges to avoid any risk.

we should use hardware wallets like Ledger nano to safeguard our crypto assets online wallets and exchangers are extremely risky

If you're not updated with the latest news
ledger nano is hacked too
nothing is safe these days :P

For long term investors hardware wallet is a must and compulsory. Also if you are a daily trader or just have a small qty of btc then only prefer to use the best exchanges which has a good security and also keep it in multiple wallets so that you can mitigate the risk.

We should to live very alert such as
Don't give any confirmation about any mail without any verification
Don't save password on any online site
Delete all cache& cookies after logoff from sites