Japan’s Financial Services Agency (FSA) plans to take administrative actions against hacked cryptocurrency exchange Coincheck after the company announced the loss of 523 million units of NEM cryptocurrency (about US$530 million) from a hack.
The FSA suspects that a lack of proper security measures allowed hackers to steal a record haul of cryptocurrency on Friday, according to a report by Nikkei Asian Review.
The regulator will issue a business improvement order to Coincheck later on Monday and order the company to strengthen its safeguards to prevent a recurrence, Japan’s chief cabinet secretary Yoshihide Suga told a regular news conference.
https://coinjournal.net/japans-financial-regulator-responds-coincheck-us530m-hack/
