February 11, 2018 10:03 am JST Police question Japanese man over Coincheck cryptocurrency theft TOKYO (Kyodo) -- Police have questioned a Japanese man in connection with last month's massive theft of cryptocurrency from digital currency exchange operator Coincheck Inc., a source close to the investigation said Saturday. The police learned that the man converted a small amount of the missing NEM coins into another form of cryptocurrency called litecoin through a site on the dark web, which can only be accessed through special software for anonymity, the source said. The man was aware the NEM had been stolen from Coincheck. Full story: https://asia.nikkei.com/Spotlight/Bitcoin-evolution/Police-question-Japanese-man-over-Coincheck-cryptocurrency-theft |
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Japan’s First Online Bank Tests Blockchain Technology with mijin (Private version of NEM) and Hyperledger
Japan Net Bank Pilots Blockchain Technology to Reduce Costs and Improve EfficiencyTOKYO – February 6, 2018 — Today Tech Bureau, a fintech and cryptocurrency solutions company, announced a PoC (Proof of Concept) project with The Japan Net Bank, Limited, the very first online bank in Japan. The main aim of the PoC is to ascertain the practicality of employing blockchain technologies, mijin and Hyperledger, in a paperless system for contract administration. PoC ObjectivesThe overall objective is to effect technology exchange and create a linkage between two blockchain technologies. Through the registration of unique hashes and the logging of data such as edits on both mijin and Hyperledger blockchains, regardless of the system the data is entered on first, data is secured in the event of a blockchain failure. Other objectives are to realize high scalability and security.  PoC scheduleThe PoC project starts February 6, 2018 and is scheduled to be completed with a project review meeting in March 30, 2018. PoCIn this PoC, Japan Net Bank using mijin and FUJITSU LIMITED using Hyperledger will develop applications for blockchains. Both applications generate hash data from unique information from the contract and register user approvals and rejections. In the event of a blockchain failure, the system administrator can view the history of actions on the other blockchain, thus realizing security of historical data and high-scalability, major goals of this PoC. This paperless system requires secure file access and storage for users accessing the registered data. mijin blockchain was chosen for this PoC because of its suitability to a wide range of applications, secure access from both inside and outside of Japan, and user-friendly back-end. The mijin blockchain also encrypts hashes and user signatures, and it affixes a timestamp accurate down to the second for each transaction. The accuracy of the timestamp is coded into the protocol of mijin blockchain. Source: http://mijin.io/en/1370.htmlWhat is Mijin (private version of NEM): https://www.youtube.com/watch?v=Axza6fi3lFc---- FOLLOW NEM ---- NEM Websites: https://nem.io/https://nemflash.io/Projects using NEM: https://github.com/Sateetje/ProjectsUsingNEM/blob/master/ProjectsUsingNEM.mdFacebook: https://www.facebook.com/ourNEM/Youtube: https://www.youtube.com/channel/UCnsSiqyb0PuQkqT4v8Xjugwhttps://www.youtube.com/channel/UC1rMoMdDtHTXXfRg_iR-QJQTwitter: https://twitter.com/nemofficialhttps://twitter.com/inside_nemhttps://twitter.com/2017LonTelegram: https://t.me/nemredhttps://t.me/nemberiahttps://t.me/newsonnemReddit: https://www.reddit.com/r/nem/BCT: https://bitcointalk.org/index.php?topic=654845.0 If you like this post, please feel free to send me a tip. My NEM address is in the footer. Thanks.
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Creating a secure NEM NanoWallet using Trezor is a great way to protect your funds from any nasty hackers out there. Also your Trezor NEM Wallet will make a great co-signer to any multisig wallets you have as even if a hacker gains control of your computer and manages to get access to your NanoWallet to send funds from a multisig account, he will be EXTREMELY unlikely to also be able to get access to your Trezor account and cosign the transaction! Plus the Trezor will also store your Bitcoin, Ethereum, Dash plus many others including allowing super secure access to your ERC-20 Tokens stored on MyEtherWallet. Getting a Trezor is really a must have for anyone serious about investing in crypto currencies How to Secure NEM NanoWallet with Trezor: https://www.youtube.com/watch?v=nPi7Xzn5Tq0 |
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02 February 2018 Manama, Bahrain — Sadad is a leading fintech company in Bahrain providing a comprehensive digital payment platform and implementing a variety of innovative products to make payments easier and convenient. They requested the UAE based NEM team to visit the kingdom and discuss their interest to work with NEM. Having full pci dss compliance (payment card industry data security standard) and recognition from the Central Bank of Bahrain, Sadad offers a wide variety of payment solutions including mobile operator payment for both prepaid and postpaid, electricity and water bill payment, remittances, charity donations, online game credits, money transfers, university fees, food services and others. Sadad brings solution to B2B, B2C and C2C transactions utilizing their Web-panel, Kiosks, Mobile App and M-POS. Currently Sadad can support purchase of bitcoins through paper wallet or QR code generation and is looking at being able to support XEM purchase using fiat currency. In the long run, Sadad aims to bring liquidity to cryptocurrency by integrating cryptocurrency to their current system. Basically it will mean that you can choose to pay your bills using either fiat currency loaded on to your wallet, credit card, and /or cryptocurrency. They are also looking at supporting the nanowallet within their Sadad wallet. Sadad has massive plans involving NEM and they are taking one step at a time. Soon we may see the NEM blockchain playing an essential part in their financial ecosystem. This is another strong partnership with NEM in the making; bringing cryptoassets and blockchain adoption closer to be used in our everyday lives. Source: https://medium.com/@paulchristianespiritu/nem-breaks-ground-in-the-kingdom-of-bahrain-e9415ba8490aSadad: https://sadadbahrain.com/---- FOLLOW NEM ---- NEM Websites: https://nem.io/https://nemflash.io/Projects using NEM: https://github.com/Sateetje/ProjectsUsingNEM/blob/master/ProjectsUsingNEM.mdFacebook: https://www.facebook.com/ourNEM/Youtube: https://www.youtube.com/channel/UCnsSiqyb0PuQkqT4v8Xjugwhttps://www.youtube.com/channel/UC1rMoMdDtHTXXfRg_iR-QJQTwitter: https://twitter.com/nemofficialhttps://twitter.com/inside_nemhttps://twitter.com/2017LonTelegram: https://t.me/nemredhttps://t.me/nemberiahttps://t.me/newsonnemReddit: https://www.reddit.com/r/nem/BCT: https://bitcointalk.org/index.php?topic=654845.0 If you like this post, please feel free to send me a tip. My NEM address is in the footer. Thanks. |
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SINGAPORE — February 1, 2018 — The NEM.io Foundation, represents the peer-to-peer NEM blockchain platform, today announced it traces funds stolen in a recent hack on the Japanese exchange Coincheck. The decentralised NEM protocol’s flexibility allows transactions to be traced in real-time, which aids exchanges to identify wallets attached to malicious activity. This helps make stolen XEM tokens effectively unusable, because they cannot be deposited without being flagged by NEM. The NEM blockchain platform itself remains secure, and all NEM mobile wallets and NEM Nano Wallets remain secure and intact. On January 26, 526 million XEM were reported missing from wallets on the Japanese cryptocurrency exchange Coincheck due to a massive security breach of the Coincheck wallet. The NEM Foundation’s automated tagging system, making use of the decentralised API, tracing stolen funds from the hack, with the objective of identifying wallets holding stolen funds. By tagging wallet of stolen funds, anybody can easily verify if stolen NEM funds are distributed to regulated trading platforms. “The NEM protocol’s powerful decentralised API allows anybody to track these funds in real-time, allowing exchanges to determine if deposits were stolen,” said Jeffrey McDonald, Vice President of the NEM Foundation. “We’re actively working with Coincheck and other exchanges to ensure proper handling of this breach. NEM.io Foundation will continue to provide updates as the situation unfolds.” The cryptocurrency community as a whole is reminded to take proper security measures, such as using multi-factor authentication and hardware wallets. NEM.io Foundation Ltd. NEM.io Foundation Ltd. is a non-profit organisation set-up to promote NEM blockchain technology globally. It is currently one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry. Its technology is currently being utilised in a variety of financial institutions and industries. Source: https://medium.com/nemofficial/nem-protocol-tracks-funds-stolen-from-coincheck-exchange-d4a27aa01d4b |
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XPOS Consortium will transform the traditional economy with a solution that unites loyalty points, alternative payment gateways, payment devices as means, crypto payment service providers, crypto remittance agents, licensed money services companies into one. Partners:Tech Bureau Corp.Incorporated in Japan, Tech Bureau is the developer of the just newly launched, Catapult, a private blockchain solution based on the NEM protocol. Tech Bureau runs Zaif, one of the biggest crypto exchange in Japan and is a strong proponent of the NEM blockchain technology in Japan. Pundi XPundi X is a cryptocurrency payment enabler solution provider incorporated in Indonesia. It has developed a range of payment methods including using a mobile app, a POS, and NFC technology on the card. The mission is to bring cryptocurrency transaction available to the masses. LoyalCoinLoyalCoin is the NEM-powered virtual currency for the next-generation, omnichannel customer loyalty economy. It is created by Appsolutely, a company that offers patented digital customer loyalty solutions to multinational and market-leading brands since 2013. LoyalCoin transforms disparate, traditional rewards systems into a universal dynamic, engaging solution where customer and brands can use loyalty points as tradable assets. Dragonfly Fintech Pte. Ltd.Dragonfly Fintech is a Singapore incorporated company that uses the NEM blockchain technology to power financial solutions, which includes payment settlement, mobile payment, and other related financial solutions. Website: https://xpos.co/---- FOLLOW NEM ---- NEM Websites: https://nem.io/https://nemflash.io/Projects using NEM: https://github.com/Sateetje/ProjectsUsingNEM/blob/master/ProjectsUsingNEM.mdFacebook: https://www.facebook.com/ourNEM/Youtube: https://www.youtube.com/channel/UCnsSiqyb0PuQkqT4v8Xjugwhttps://www.youtube.com/channel/UC1rMoMdDtHTXXfRg_iR-QJQTwitter: https://twitter.com/nemofficialhttps://twitter.com/inside_nemhttps://twitter.com/2017LonTelegram: https://t.me/nemredhttps://t.me/nemberiahttps://t.me/newsonnemReddit: https://www.reddit.com/r/nem/BCT: https://bitcointalk.org/index.php?topic=654845.0 If you like this post, please feel free to send me a tip. My NEM address is in the footer. Thanks. |
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Statement from the NEM Foundation:
The NEM team is 100% committed to the safety and security of the NEM community.
The decentralized NEM protocol is highly secure and is performing exactly as designed.
Our team is closely monitoring XEM movements from the Coincheck theft of January 25. Due to security concerns around these efforts, we will not be releasing further details on the detailed measures at this time.
We are closely monitoring the stolen funds. Some small amounts, under $100 USD each, have been moved to several accounts. NEM’s tagging system is working to track how funds are moved. None of the stolen funds have been sent to any exchanges. As long as those funds are off public exchanges they will be very difficult to liquidate, especially in large amounts.
- This is a Coincheck problem, not a NEM problem. However, we are happy to help and leverage NEM’s decentralised API to support the NEM community and its investors.
- The Coincheck incident was a hot wallet vulnerability, it did not impact the NEM blockchain security in any way.
- The NEM protocol is highly secure and is performing exactly as designed.
- The hacker hasn’t been able to sell any funds to an exchange.
- The NEM team is closely monitoring the situation, but for security reasons we cannot divulge further details.
- NEM is a true decentralized blockchain, any attempts we are making to monitor the situation makes use of NEM’s decentralized API, not centralized control.
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