About 30 charged for allegedly exchanging stolen cryptocurrency


30 traders of stolen cryptocurrencies arrested in Japan

  • Launchers of cryptocurrencies stolen from Coincheck detained in Japan

  • Whether arrested persons are Coincheck crackers remains unknown

  • The exchange continues to evolve despite a difficult past

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Tokyo police detain a group of people who deliberately exchanged stolen digital currencies from the hacked cryptocurrency exchange Coincheck

Tokyo law enforcement authorities have arrested about 30 people on charges of organizing the exchange of NEM cryptocurrency stolen from the Coincheck exchange. Writes about this local edition The Mainichi.

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In January 2018, as a result of a hacker attack, the Coincheck cryptocurrency exchange lost about $ 560 million in NEM.After the theft, an underground exchange appeared on the darknet to exchange stolen NEM for other digital currencies.

The Japanese authorities managed to expose the criminal group and make arrests.

30 traders of stolen cryptocurrencies arrested in Japan

The detainees are Japanese citizens, but whether they are behind the NEM theft itself remains unknown.

Underground cryptocurrency business

According to preliminary data, the turnover of stolen cryptocurrencies on the underground exchange was $ 90 million.The suspects used the NEM rate for trading at the time of the Coincheck hack in 2018, so the stolen coins were in demand.

It is reported that some of the detainees exchanged NEM for other digital currencies through an underground exchange, and then laundered a new cryptocurrency on other exchanges..

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Despite a loud hack, Coincheck continues to evolve.

30 traders of stolen cryptocurrencies arrested in Japan

So, for example, in August 2020, Coincheck announced its entry into the IEO market. Hashpalette with its utility token Palette Token (PLT) became the debut project for the initial token offer on Coincheck.

However, Coincheck is not the only crypto exchange hacked in Japan..

30 traders of stolen cryptocurrencies arrested in Japan

In July 2019, another Japanese site, Bitpoint, also fell victim to a hacker attack. The company’s hot wallet was hacked, while the attackers stole $ 32 million from it.Then the crypto exchange lost several types of cryptocurrencies, including ether (ETH), litecoin (LTC), XRP (XRP), bitcoin (BTC) and bitcoin cash (BCH).

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30 traders of stolen cryptocurrencies arrested in Japan

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