Conversely if he is found not guilty it will be released back to him. If Doi is found guilty, the ringfenced NEM from the Coincheck hack will be confiscated. Japan’s financial regulator says it will inspect all cryptocurrency exchanges in the country if it needs to, after 534m worth of bitcoin alternative NEM was stolen by hackers. The order is thought to represent the first such order in Japan.
The arrest of the pair was partly conducted so that they weren’t able to sell or otherwise move any of the remaining NEM tokens or proceeds of their sale, and the Tokyo District Court has issued a protective order in advance of confiscation of cryptocurrency from Doi’s company wallets.
#Coincheck hack license
First Ever Such Order by Japanese CourtsĪccording to the Japan Times, Doi sent his profits to wallets connected to a company he started, where some still remain, along with $46,000 worth of Bitcoin he has made from the sale of the Coincheck hack tokens. Financial Services Agency (FSA), Japans financial regulator, will approve a cryptocurrency exchange license for Coincheck according to Nikkei. But its not been confirmed officially yet so be warned about FUD and misinformation until the details come out. There is a rumor that coincheck, the biggest crypto exchange in Japan, has lost up to 600 million USD worth of XEM in a hack. Division has traced proceeds of the USD534-million Coincheck hack of XEM coin. Kitamoto was said at the time of the arrest to have admitted his part in the plan and profited to the tune of $19 million. Halting withdrawals in all currencies quickly led to rumors Coincheck had been hacked. Coincheck Hack of XEM Coin Laundered through Vancouver Based Exchange. The sellers of these tainted tokens were identified as Doi and Kitamoto, and the pair were arrested in March this year on suspicion of profiting from the proceeds of crime. However, an unspecified amount came back on the radar when they arrived at an unnamed exchange in 2019. The 500 million coins were sent immediately to the dark web where they were exchanged for Bitcoin at a cut price, at which point NEM blockchain analysts thought they had seen the last of them. The Coincheck hack saw $530 million worth of XEM tokens stolen on January 26, 2018, with the coins taken from a single hot wallet on the exchange. The company is owned by Takayoshi Doi, one of the accused recipients of the stolen XEM tokens who was arrested in March this year alongside another recipient Masaki Kitamoto, who has already admitted to the charges. and pulled off one of the biggest heists in history. The Coincheck hack saw $530 million worth of XEM taken from the exchangeĪ Japanese court has ordered that a company thought to own a proportion of the 500 million XEM tokens stolen in the Coincheck hack of 2018 has access to its wallets revoked and the assets seized. on Friday morning in Tokyo, someone hacked into the digital wallet of Japanese cryptocurrency exchange Coincheck Inc.The owner, who allegedly bought the stolen XEM tokens on the dark web following the hack, was arrested in March.A Japanese court has ordered that XEM tokens and Bitcoin relating to the Coincheck hack of 2018 be ringfenced and frozen.
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