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SOCIETY > Crime

Some of Coincheck’s stolen cryptocurrency might have gone to Russian exchange

  • February 14, 2018
  • , Mainichi , Lead story
  • JMH Translation

In connection with the theft of NEM digital currency worth approximately 58 billion yen from the Coincheck currency exchange, it was found that some 2.1 billion yen worth of NEM (at the exchange rate at the time of theft) was traded on the “dark web” with a high level of anonymity and part of this was transferred to Yobit, an exchange believed to be operated by a Russian company, and other foreign exchanges. It is possible that this was a money laundering operation by the perpetrators to exchange the stolen currency into other crypto and legal currencies. The Metropolitan Police Department is aware of these moves and is investigating it as a violation of the law on unauthorized computer access.

 

Yobit is a currency exchange that maintains a high level of anonymity. It does not verify the identity of clients and is known to deal in a wide variety of cryptocurrencies. If the stolen NEM has been exchanged into other currencies, this would make recovery much more difficult. (Abridged)

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