Coincheck Hackers Walk Away With $70 Million In Laundered Crypto

The hackers behind the Coincheck hack are set to walk away with millions as around 40% of the stolen NEM tokens have already been laundered. There were significant hurdles hackers had to overcome as coordinated efforts by exchanges around the country helped to blacklist the majority of stolen funds. Furthermore, the hackers are reported to have made use of dark web services to wash the stolen funds.

The hack was the result of weeks of planning as suspicious traffic was reported. The fruit was essentially the private key to the hotwallet of the exchange. Giving hackers unrestricted access to all the funds stored in the wallet, it was only a matter of time before it was emptied.

News aren’t too bad for the victims of the hack as Coincheck have begun the process of refunding affected users. Adding to the recovery of the brand, Coincheck is also complying with government instructions to tighten up security measures and patch any vulnerabilities/exploits which could potentially cause another breach. In another positive gesture, the exchange also committed to providing 83 Cents for each token. Considering the token is barely worth 44 cents a piece, this comes as a generous premium for many victims by the exchange in a attempt to match market prices closer to the hack.

The aftermath

To conclude, the hackers behind the multi million dollar Coincheck breach have officially cleaned well over 40% of their haul. Making it essentially untraceable to the majority of investigators and crypto users, the stolen haul has been transferred to bitcoin for the majority. While many claim the hackers will simply cashout the bitcoin into fiat, the impact on the markets is already being felt. Considering NEM prices have fallen dramatically, bitcoin prices too have been wavering amid the news, falling well over 5% over the past 24 hours at the time of writing.

Written By

Hi I'm Aleppo Allesadero a experienced bitcoin user and educator. Having worked for over a year in the bitcoin journalism ive seen bitcoin grow from strength to strength asserting its power against fiat currency. Hopefully you too can learn about this exciting new prospect which may help transform the way we see finance and economy on a daily basis.

17
Leave a Reply

avatar
17 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
10 Comment authors
ClaudcogTimothyJouttTimothyJouttMichaelUndipDanilorot Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
Richardneeva
Guest
Richardneeva

п»їviagra pills 100mg viagra
п»їviagra pills

Terrylep
Guest
Terrylep

cheap ed pills from canada natural cure for ed
cheap ed pills

Terrylep
Guest
Terrylep

order ed pills cheap ed pills
cheap ed pills from india

Terrylep
Guest
Terrylep

order ed pills viagra vs cialis bodybuilding
buy ed pills from canada

BillySkAva
Guest
BillySkAva

buy ketoconazole online: order ketoconazole
zithromax online

Michaelbew
Guest
Michaelbew

generic pills india: india pharmacy india pharmacy mail order

Michaelbew
Guest
Michaelbew

india pharmacy without dr prescriptions: generic pills india buy medication online from india

Michaelbew
Guest
Michaelbew

india pharmacy: buy medication online from india india pharmacy without dr prescriptions

RobertrhypE
Guest
RobertrhypE

erectile pills canada: https://edpillsonline24.com/# mail order erectile dysfunction pills

RobertrhypE
Guest
RobertrhypE

best ed pills: https://edpillsonline24.com/# levitra pills

Danilorot
Guest

senior dating site
free personal ads

RobertrhypE
Guest
RobertrhypE

cialis pills: https://edpillsonline24.com/# best erectile dysfunction pills review

MichaelUndip
Guest
MichaelUndip

canadian pharmacy generic viagra: buy viagra online without prescription viagra without prescription

TimothyJoutt
Guest

free meet me site
local single

MichaelUndip
Guest
MichaelUndip

cheap viagra: viagra online without prescription non prescription viagra

TimothyJoutt
Guest
Claudcog
Guest
Claudcog

amoxicillin 500 mg where to buy: buy amoxicillin – amoxicillin where to get