Definitely not good news for the industry. Smells of an inside job. Hopefully they get the funds back or use magic to figure out who owns the receiving wallets.
https://www.coindesk.com/coincheck-confirms-crypto-hack-loss-larger-than-mt-gox/
I guess the silver lining is that the larger currencies weren’t involved, if that could be seen as a good thing.
Looks like the victims will get refunded.
Coincheck said it would use its cash to reimburse about 46.3bn yen to the 260,000 people who lost their holdings of NEM, the world’s 10th-biggest cryptocurrency by market capitalisation.
Great news. Hopefully it happens and Coincheck fixes whatever their internal issues are. Have they come out to discuss how the hack happened?
Really…! Bitcoin has been hacked since day 1 i just don’t get how people value it.
I know Traders would Trade there granny if she was on offer But Bitcoin is like Zimbabwean Dollar to
me worthless Pointless…???
Maybe UK can Pay the EU bill in Bitcoin…??? Shall we ask
and the dollar or other currencies are also worthless… until you give value to it by expecting something in return when you exchange those papers with what you want.
Since Day 1? Really?
Coincheck may refund what was stolen, but its executives are refusing to admit that security flaws led to the hack. Coincheck does not have a a multisignature security measures, unlike many other major cryptocurrency exchanges like Kraken, Coinbase and Bitfinex, who have teamed up with BitGo to make sure that any transaction is verified by a third party, before being processed. Worse still, it seems that Coincheck was keeping client funds in an online hot wallet, which meant that sooner or later, hackers were going to try and steal them. Which they obviously did.
I wonder whether they’d be able to get their money back. That would be a first.