Business and Economy
$530 million lost in hack of Japan cryptocurrency exchange
FILE: Japan flag (Photo by Ruth Hartnup/Flickr, CC BY 2.0)
TOKYO — Japanese media say an exchange has lost 58 billion yen ($530 million) in cryptocurrency because of hacking.
The Coincheck exchange said on its website Friday that it had halted sales and withdrawals of the currency, which is called NEM.
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It later added that it had restricted dealings in most other cryptocurrencies too.
Kyodo News service reported that Coincheck President Koichiro Wada apologized at a news conference and said the company may seek financial assistance.
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Kyodo says the Coincheck exchange detected the unauthorized access to its system early Friday.
The reported loss tops the 48 billion yen that the Japan-based Mt.
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Gox Bitcoin exchange lost in 2014.
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