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Japanese cryptocurrency exchange loses more than $500 million to hackers
CNBC ^ | January 26, 2018 | Evelyn Cheng

Posted on 01/26/2018 4:49:21 PM PST by C19fan

Hackers stole several hundred million dollars' worth of a lesser-known cryptocurrency from a major Japanese exchange Friday.

Coincheck said that around 523 million of the exchange's NEM coins were sent to another account around 3 a.m. local time (1 p.m. ET Thursday), according to a Google translate of a Japanese transcript of the Friday press conference from Logmi. The exchange has about 6 percent of yen-bitcoin trading, ranking fourth by market share on CryptoCompare.

(Excerpt) Read more at cnbc.com ...


TOPICS: Computers/Internet
KEYWORDS: bitcoin; hacking
Another cryptocurrency bank robbery.
1 posted on 01/26/2018 4:49:21 PM PST by C19fan
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To: C19fan

Ooops!


2 posted on 01/26/2018 5:01:41 PM PST by Grampa Dave (When is it OUR TURN to keep our own money and live our own dreams!!!!?)
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To: C19fan

So secure you can’t even find it yourself.


3 posted on 01/26/2018 5:03:58 PM PST by Lurkina.n.Learnin (Wisdom and education are different things. Don't confuse them.)
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To: C19fan

4 posted on 01/26/2018 5:04:11 PM PST by dfwgator
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To: C19fan

Is this another case where the customers’ money was stolen, but the owners money wasn’t touched?


5 posted on 01/26/2018 5:18:34 PM PST by PAR35
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To: C19fan

Because that’s where the not quite money is.


6 posted on 01/26/2018 5:21:34 PM PST by BenLurkin (The above is not a statement of fact. It is either satire or opinion. Or both.)
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To: C19fan
Call the CryptoCops. It was a short Italian looking guy. Big mustache. Suspenders....


7 posted on 01/26/2018 5:28:09 PM PST by Delta 21 (Build The Wall !! Jail The Cankle !!)
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To: C19fan

They should stuff their servers with exploding dye packs.


8 posted on 01/26/2018 5:31:05 PM PST by Wolfie
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To: dfwgator

I think there is still a significant misunderstanding among the public about he distinction between having bitcoin in a wallet you hold the key to and having bitcoin in an exchange that someone else has the key to.
I read about he latter getting looted, but am unaware of it happening to the former.


9 posted on 01/26/2018 5:54:30 PM PST by Gunslingr3
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To: C19fan

No problem I am sure that the FDIC will take care....Ah never mind!


10 posted on 01/26/2018 6:07:08 PM PST by Revel
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To: C19fan

Can’t wait for that cashless society.


11 posted on 01/26/2018 6:37:20 PM PST by fruser1
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To: C19fan
Well, since each coin was serial numbered they can trace their usage.

What? The geeks didn't of that?

Head-slap.. .Back to the white board.

12 posted on 01/26/2018 7:06:50 PM PST by Deaf Smith (When a Texan takes his chances, chances will be taken that's fortj sure)
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To: C19fan
Don't have to go all the way to Japan for cryptocurrency fraud: this one is a bit closer to home:

http://www.timescall.com/news/ci_31611744/longmont-based-man-charged-by-feds-bitcoin-ponzi?source=JPopUp

btw, would YOU trust your cryptocoins to this man?


13 posted on 01/26/2018 8:07:43 PM PST by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: Gunslingr3

“I read about he latter getting looted, but am unaware of it happening to the former.”

yeah, it’s WAY safer to have your own wallet:

http://www.newsweek.com/man-accidentally-threw-bitcoin-worth-108m-trash-says-theres-no-point-crying-726807


14 posted on 01/26/2018 8:10:14 PM PST by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: fruser1

“Can’t wait for that cashless society.”

Wait? I think bitcoin is about as cashless as you can get ...


15 posted on 01/26/2018 8:10:59 PM PST by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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