Coincheck: 530M cryptocurrency heist may be biggest ever

But because Coincheck was already in business before the new rules came into effect, it wasn't yet registered with authorities. Managers of Coincheck bowing in apology at a news conference following the exchange's loss of 530 million in cryptocurrency in a hack. By clicking continue below and using our sites or applications, you agree that we and our third party advertisers can: transfer your personal data to the United States or other countries, and process your personal data to serve you with personalized ads, subject to your.

Japan to Inspect, cryptocurrency, traders After

You can find much more information about your privacy choices in our privacy policy. You always have the choice to experience our sites without personalized advertising based on your web browsing activity by visiting the. A cryptocurrency exchange in Japan is coming under government scrutiny after it said hackers stole 530 million from its users. Last month, South Korean bitcoin exchange Youbit filed for bankruptcy after being targeted by cybercriminals twice in the space of a few months.

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Financial authorities are supervising the company's response to the theft, he said. Related: What is bitcoin? The meteoric rise in the value of bitcoin and other cryptocurrencies over the past year or so appears to have intensified interest from thieves.

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Many exchanges have grown very quickly as trading has taken off but haven't focused on improving cybersecurity, Arslanian said. EU Data Subject Requests. Those advertisers use tracking technologies to collect information about your activity on our sites and applications and across the Internet and your other apps and devices. Mt Gox went bankrupt shortly afterward and affected users still haven't been compensated.

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A Japanese government spokesman said Monday that Coincheck would be asked to improve its business practices following the hack. If confirmed, it's expected to rank as the biggest such theft on record, eclipsing the estimated 400 million in bitcoin stolen from Mt Gox in 2014. DAAs AppChoices app here. Coincheck didn't respond to repeated requests for comment on how exactly it will fund the customer refunds. Some countries have taken a tough approach.

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Japan has taken a lighter touch. It has currently suspended trading in all virtual currencies apart from bitcoin. Last year, the government officially recognized bitcoin as a form of currency and started licensing exchanges. DAAs Consumer Choice page, the, nAI's website, and/or the, eU online choices page, from each of your browsers or devices.

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Yoko Wakatsuki contributed to this report. "Large scale hacks are among the biggest risks faced today by the global crypto community said Henri Arslanian, a financial technology expert at consulting firm PwC in Hong Kong.