Exchange HACKED, $500,000,000+ of XEM stolen? (Japan)

[DogeMajestic]

TLDR: Japanese exchange hacked, half a billion dollar worth of funds seem to be stolen


Update Jan. 26, 2:00 pm UTC: NEM Foundation president Lon Wong has appeared to confirm Coincheck was hacked, calling the stolen funds "the biggest theft in the history of the world."

Update Jan. 26, 3:00 pm UTC: Coincheck has reported the likely inappropriate transfer of $532 mln worth of XEM to the Financial Services Authority and the Police, according to Nikkei.

https://cointelegraph.com/news/japan-coincheck-exchange-freezes-all-withdrawals-as-up-to-723-mln-leaves-its-wallet

 

Truly sad news for all Nembers today.

[AravinthP]

wow! looks like it could be i can only ensure my part is tough but if exchange gets hacked not sure what can one say.

Hoping its a techincal glitch not a hack

https://www.bloomberg.com/news/articles/2018-01-26/cryptocurrencies-drop-after-japanese-exchange-halts-withdrawals

[derago21]

The wallet of the hacker has been blocked for unloading, But I still feel this to be FUD, so nothing to be worried much.

[Mc_Moneysack]

This just shows us once again that the only safe way to hold your coins is to not have them on exchanges. I personally only hold coins/tokens that are compatible with Ledger hardware wallets. This simply allows me to sleep well. I am however really sad for all the people who lost their money.

[superloy]

That's unfortunate, that's why I never leave my coins into Cryptocurrency Exchange to avoid exchange hacks and attacks.
Those who had been lost their coins I hope they can recover and the Japanese exchange company will have to do something in return with their clients.
That's a lot of money from an easy effort of hacking.

[nevergone]

yes, this is a really bad news and maybe the reason that most coins drop today, i heard the exchange will hold a confrence tomorrow, wish to see how will they do to this

[ishta123]

Always transfer your funds into your personal wallet. I made the mistake of leaving on the exchanges before but not anymore.

[Vit83]

How do you think this can effort on XEM price? How is this possible to block a wallet on a blockchain? Or nem is also not a blockchain like IOTA and XRP)?

[superloy]

The wallet of the hacker has been blocked for unloading, But I still feel this to be FUD, so nothing to be worried much.

It's a good thing that the wallet was frozen before the coins is passed into the attacker's external wallet.
Internal wallets are just temporary wallets therefore Cryptocurrency exchange do have still all the rights to freeze or subject to undo any terms of transactions.

[nioctiB#1]

Yet another exchange have been hacked. I'm not surprised anymore when i see a news about this because exchange are the number target of those hackers. but sometimes im thinking that., are those exchanges have really poor security? i dont think so. this is why im starting to think that when an exchange gets hacked it is an inside job. just like what i think when nicehash gets hacked last year.

[quierx16]

TLDR: Japanese exchange hacked, half a billion dollar worth of funds seem to be stolen


Update Jan. 26, 2:00 pm UTC: NEM Foundation president Lon Wong has appeared to confirm Coincheck was hacked, calling the stolen funds "the biggest theft in the history of the world."

Update Jan. 26, 3:00 pm UTC: Coincheck has reported the likely inappropriate transfer of $532 mln worth of XEM to the Financial Services Authority and the Police, according to Nikkei.

https://cointelegraph.com/news/japan-coincheck-exchange-freezes-all-withdrawals-as-up-to-723-mln-leaves-its-wallet

 

Truly sad news for all Nembers today.

ohh.. so that the reason why the withdrawal of coincheck today is on freeze?
hope this news will not affect the value of xem on the market.

[DogeMajestic]

hope this news will not affect the value of xem on the market.

Unfortunately it seems the value decrease has already been beginning
https://coinmarketcap.com/currencies/nem

Totally shocking for hodlers, yet good for those who will buy XEM for cheap

[spacequality]

wow! looks like it could be i can only ensure my part is tough but if exchange gets hacked not sure what can one say.

Hoping its a techincal glitch not a hack

https://www.bloomberg.com/news/articles/2018-01-26/cryptocurrencies-drop-after-japanese-exchange-halts-withdrawals

agree, i expect just a teknichel fault.
And if it really happened. Hopefully the perpetrators are caught and return the stolen funds

[DeangeloVickers]

Does anyone else think that this will lead to severe over-regulation in the name of security? IMHO, the dynamics for crypto markets in 2018 are trending a bit more negative now.

[Dread Pirate Roberts]

That's a really very huge number 500 milion! . I think the price of nem after going on such a hack case will decrease significantly considerably.
that's it's a very reasonable logic in this case. better still see the market price nem now in the market. because it's a very natural thing when the wallet exchange is stolen. thank you for creating this thread and notice us!

[Ceballos]

I was wondering the huge dump on XEM. Didn't know why it has been dumped.
This is really bad and i hope this will not happen again.

[99th]

Yikes! I keep most of my cryptocurrency in etherdelta and coinbase like an idiot. I guess I should start sending it to my electrum or exodus wallet to be safe.

How likely is it for MEW to get hacked?

[tahmad]

Prepare for XEM to be dumped.
News always bring 2 sides, a benefit for some people and also a disadvantageous for the victims

[5thFear]

Now that is something really serious. If things like this starts happening then cryptocurrency have a big flaw and then it won't become what all thinks it'll.

[dhka]

Shyett happens!
$500m is like 6% of Nem marketcap!

I just looked at the Coincheck CEO face and he was so deeply regret it. Exchanges really do need to doube or even triple their security, we cant let this happen again and again