Home News All NEM coins stolen from Coincheck were transferred to different accounts

All NEM coins stolen from Coincheck were transferred to different accounts

Hackers have moved all NEM coins stolen from Japan-based Coincheck cryptocurrency exchange to other accounts, as reported by experts.

As we reported earlier, Coincheck fell victim to a large scale cyber attack in late January 2018. As a result, the exchange lost more than $500 000 000 worth of NEM cryptocurrency.

Having stored the stolen coins at their dark net account, hackers were continuously transferring them to a number of other accounts.

Initially, the perpetrators were able to move only small chips of the amount stolen, according to the information from NEM Foundation that had been tracking the transfers in order to prevent the criminals from converting the ill-gotten coins to other cryptocurrencies or cash.

The transactions accelerated, however, after NEM Foundation announced it had stopped tracking them on Sunday. The hackers’account is at zero by now.

Experts believe that stolen coins could have been transferred to Japan, Canada and China where most of them may have been converted into other crypto- or fiat currencies already, whereas tracking became completely impossible two months after the theft.