The largest theft in cryptocurrency history has sparked what is widely believed to be the most widespread and intensive online investigation ever undertaken. It may also force a change in the attitude of Japan’s finance minister who previously had supported minimal state supervision of the cryptocurrency revolution. The Coincheck theft may also convince Ukrainian legislators that their efforts to adopt national law on this subject may need serious rethinking.
From CCN: Japanese police have reportedly questioned a domestic trader who converted a small portion of stolen NEM from Coincheck into Litecoin as a part of an ongoing investigation. Citing sources with an ear to the investigation of the recent major theft of NEM tokens from Japanese exchange Coincheck, the Nikkei is reporting that police have questioned at least one individual in connection with the hack. According to the publication, the unnamed individual had anonymously converted a small amount of the stolen NEM coins – tagged by Singapore-based NEM Foundation following the theft – into Litecoin through a dark web website. The individual, who reportedly admitted to being aware that the NEM sold was originally stolen from Coincheck, was tracked by Tokyo Metropolitan Police Department’s cybercrime division after actively monitoring websites on the dark web. Few other details are currently known. As reported in late January, Coincheck executives confirmed a massive hack of 526 million NEM tokens, worth over $530 million at the time. The stolen NEM tokens were subsequently split up between several digital addresses, all of which are being tracked by the NEM.io foundation. “The decentralised NEM protocol’s flexibility allows transactions to be traced in real-time, which aids exchanges to identify wallets attached to malicious activity,” the non-profit foundation said this month. “This helps make stolen XEM tokens effectively unusable, because they cannot be deposited without being flagged by NEM. “ […] https://www.ccn.com/tokyo-police-quest ... m-trader-coincheck-theft/
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