- this is a cosmic sum. Probably for the whole existence of crypto currency is the first case of such a large kidnapping.From such news, I'm more and more convinced that there is no perfect security.
Topic: Another bad news from japan (Read 372 times)
$534 mln. - this is a cosmic sum. Probably for the whole existence of crypto currency is the first case of such a large kidnapping.
From such news, I'm more and more convinced that there is no perfect security.
- this is a cosmic sum. Probably for the whole existence of crypto currency is the first case of such a large kidnapping.From such news, I'm more and more convinced that there is no perfect security.
This is again an example of how important it is not to fully trust your funds to an exchange. I am somewhat afraid also because I'm storing majority on my altcoins to an exchange. I know from the start it is not a good practice but withdrawal fees makes me think about just storing it there.
With the amount being stolen, I just hope the company can really do a fair approach on this. That they will think the customers' sake more than theirs. This should also be an eye-opener to every echange company to make their security features even more secured and to us users to use it as an exchange only rather than a wallet to store for long time.
With the amount being stolen, I just hope the company can really do a fair approach on this. That they will think the customers' sake more than theirs. This should also be an eye-opener to every echange company to make their security features even more secured and to us users to use it as an exchange only rather than a wallet to store for long time.
Are these coins really stolen or this is the way to get public money to exchange owners wallet? I think it can't be stolen easily.
From the experience of Mt Gox, why do coincheck have to be so careless. $530.00 million is not an easy money to be left on an exchange. Why couldn't they practice sound security practices by keeping the funds on cold storage like most exchanges do. This news is going to dampen the confidence of newbie and users of cryptocurrencies.
That was shock, since the trading trends are now still getting low. The crypto world has been punch back again with hacking one of big exchanges in Japan. But as i seen, this exchanges are taking his responsibility to refund all customer money back
https://www.express.co.uk/news/world/911623/bitcoin-latest-japan-coincheck-refund-nem-cryptocurrency-heist
Even though this was bad news, but what Coincheck did will makes market going to trust able for exchanges.
https://www.express.co.uk/news/world/911623/bitcoin-latest-japan-coincheck-refund-nem-cryptocurrency-heist
Even though this was bad news, but what Coincheck did will makes market going to trust able for exchanges.
unfortunately those news are accepted and reflect the whole market of crypto in the eyes of investors and media by resulting to a decrease of demand and prices of whole market.
I was hopeful when the Japanese stock market officials explained, but unfortunately they will not be able to bring back the stolen NEMs. They did not explain the reasons for their security weaknesses. For this reason, it was a very unclear statement.
Hesus this is something that I predicted last year that sadly this year we would have our first billion dollar hack. We are well on our way, I hope I am not correct this time 
.
. 
Japanese cryptocurrency exchange Coincheck one of the largest in the country.The NEM coins were stolen on Friday, Jan. 26. https://cointelegraph.com/news/coincheck-stolen-534-mln-nem-were-stored-on-low-security-hot-wallet
The good thing in this situation is no other coin was affected and hopefully they can pursue the culprit. With that large amount of money that was lost, i could be a serious scenario for coincheck and could posibly file a bunkrupcy. I believe coincheck would take into account to have a more secure storage for their coins and because of this happenings traders will probably think twice before investing or trading in their site.
I don't trust any online wallet/exchange. Keep your private key safe. That's all you need to do.
What bothers me and astounds me at the same time is the fact that the market hardly reacted to the hack. Even 8 hours after the hack, westerners don't seem to care--I think that's a good thing. It just goes to shows that the public's tolerance for these kind of event is already high enough.
Most people don't understand one simple thing about the NEM. It's highly secure blockchain. Coins that were being stolen will not be sold for a long time or may be not ever sold. NEM can mark particular transactions and those XEM that were stolen are "dirty". Hacker can't sell them. In my opinion this news is good for the long term investment in NEM. 
Well that is a good feature for NEM if indeed as part of their specifications. Then how to do this? Can anyone can report of hacking incident and this will automatically mark as "dirty"? Is the system is in place already?
I think those several lost millions of dollars will be refunded according to the news. Well, that is good news too and will make Japan based exchanges gain more respect.
Being stolen is a challenge for the exchange and good coping is good publicity
Japanese cryptocurrency exchange Coincheck one of the largest in the country.The NEM coins were stolen on Friday, Jan. 26. https://cointelegraph.com/news/coincheck-stolen-534-mln-nem-were-stored-on-low-security-hot-wallet
Damn, that sounds bad. a lil more than 500 million stolen. #HackersGonnaHack!
We can all learn how important is the security in this system who manage wallets... All those systems are at risk just for holding those coins. Hackers will always try to find the way to get those coins just because there is a high prize for the ones who vuln those systems.
Let's hope that doesn't impact much the markets
Most people don't understand one simple thing about the NEM. It's highly secure blockchain. Coins that were being stolen will not be sold for a long time or may be not ever sold. NEM can mark particular transactions and those XEM that were stolen are "dirty". Hacker can't sell them. In my opinion this news is good for the long term investment in NEM.
Japanese cryptocurrency exchange Coincheck one of the largest in the country.The NEM coins were stolen on Friday, Jan. 26. https://cointelegraph.com/news/coincheck-stolen-534-mln-nem-were-stored-on-low-security-hot-wallet
I've heard of this news. And I should say that this news makes cryptocurrency look at pretty bad shape because of another fud rising. Because as we all know, fuds makes a coin or the whole crypto bleed. So is this mean for another bleed? Hmm, I don't know but millions of coins were stolen. Probably the nem will only bleed for a moment or what's worse is the whole crypto might bleed. But that's only a might not certain.
Wow another hacking incident. Hackers are really targeting cryptocurrency. This should be investigated as the amount that was stolen was really huge. Also again with my previous post on a hacking incident, exchanges should really invest on security. They need to make their subscriber secured to trust them.
Japanese cryptocurrency exchange Coincheck one of the largest in the country.The NEM coins were stolen on Friday, Jan. 26. https://cointelegraph.com/news/coincheck-stolen-534-mln-nem-were-stored-on-low-security-hot-wallet
Another problem with an exchange. That’s about 4 in the last few years that I can think of off hand. This is a reminder that it’s not safe to store coins on exchanges. They should be stored in offline wallets unless you are trading them. Exchanges can get hacked or just steal your money and there is no way to recover it.
This happening is the reason why other people are afraid to enter cryptocurrency. They are afraid to lose their money. Just what like happen to NEM.
We cannot blame if people becomes afraid about cryptocurrency, that is why as a believer and a supporter of crypto we kept saying that it involves risk so that if they don't want to try this then it is up to them already. There is no pressure nor a strained here. If they are more on the negative things then nothing will happen. 
This happening is the reason why other people are afraid to enter cryptocurrency. They are afraid to lose their money. Just what like happen to NEM.
Jump to: