"It's worth 58bn yen based on the calculation at the rate when detected", he told reporters at the Tokyo Stock Exchange said Otsuka.
A major Japanese cryptocurrency exchange has pledged to reimburse the 260,000 users affected by the largest crypto theft in history, which occurred last Friday.
Following the late night press conference, it was announced that the Financial Services Agency of Japan was investigating the exchange as well as the missing funds. Nevertheless, it had "nothing to do with NEM but rather Coincheck's lack of strong security measures", she said in a series of tweets.
Coincheck said the hackers stole customer deposits of NEM, a less well known digital currency. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.Investing in cryptocurrencies and other Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation by Smartereum or the writer to invest in cryptocurrencies or other ICOs.
Does The Hack Mean We Need More Regulation?
Most exchanges store data in "cold wallets" that are not connected to the internet.
PM Modi On Davos
The PM said he wanted to fully leverage the fact that after 30 years, there was a government with a full majority in India. The important signal of this visit is that we engage we engage with the world in a multidimensional way, "Gokhale said".
FSA officials pointed out the potential risk of terrorist groups using Coincheck's digital currencies to launder funds and said the company had to be more vigilant if it continued to handle such risky dealings.
Jeff McDonald, vice president of the NEM Foundation, said in a statement Sunday that it is reaching out to exchanges and exploring three different options, while not elaborating in what exactly these were.
While a blockchain can be secure, the exchanges that are crucial in increasing the amount of crypto trading, enabling bitcoin and other such currencies go mainstream, do not use the same technology, says Simon Choi, a director at anti-virus software company Hauri Inc.
What lessons can exchanges learn from this occurrence?
Only once investors are able to choose the right exchange, it would be completely safe for them to invest in cryptocurrencies.
Z Will Not Be Performing At 2018 Grammy's Despite Reports
Mars is behind Jay-Z and Lamar with six nominations, including best R&B album, best R&B song and best R&B performance. In 2016, Lamar's breathlessly acclaimed To Pimp a Butterfly lost the album-of-the-year prize to Taylor Swift's 1989 .
Day, Noren need another day to decide victor at Torrey
Noren found the water with his second shot of the morning while Day placed his third inches from the cup to seal their fates. Palmer was eliminated on the first playoff hole, but four more holes after that was not enough to separate Day and Noren.