Consequences of a hacker attack on the Coincheck exchange


Consequences of a hacker attack on the Coincheck exchange

Breaking up the Coincheck exchange and stealing more than $ 400 million in the NEM crypto currency, attracted the attention of regulators, who in turn put forward a number of requirements for the operation of the system. As a consequence, a number of changes will be made to the system and the principles of the exchange, and trades for such coins as Monero, Dash and ZCash will also be discontinued.

Kiberataka led to the Exchange completely freezing all accounts and limiting the withdrawal of any funds. On March 12, the auction was partially restored, while the exchange reported a compensation of $ 440 million, which the exchange paid almost 260,000 users who had suffered from the hacker attack.

The main source of information on hacking and its consequences is JapanTimes. This news agency says that on February 7, there was a strong activity on this coin on various resources. As a result, it was possible to track part of the stolen NEM coins that were found on Canadian and Japanese stock exchanges. However, most of the coins are laundered so far.

The message from the regulators of the exchange was received on March 8. In the letter, some comments were made on the work of the exchange, it was specifically mentioned the lack of reliable mechanisms that could prevent hacking and further laundering of the crypto currency. Also, the regulator put forward a number of requirements, which primarily concern improving the principles of the stock exchange.

Today, the news of the world’s crypto currency is agitated by the possible response of Coincheck to the regulator’s requirements, namely by the delisting of some of the coins from the top 10 (Monero, Dash and ZCash). Such factors can cause a loss of confidence in the altcoy, and consequently the fall of the course. Investors actively observe the further development of events and do not rush to pour fiat money into the crypto-currencies, until the situation is settled.

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