Japanese exchange says hackers stole over $400M in cryptocurrency

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Japanese exchange has claimed that it had lost around $400 million in the tokens after alleged hack of its services.

One of the Japanese exchanges has claimed that it had lost around $400 million in the tokens after the alleged hack of its services. The company’s spokesperson claimed that there are around 500 million of the tokens of the NEM costing to around $400 million. There have been restrictions on the deposits as well as the withdrawals of this cryptocurrency known as the NEM.

Around 500 million of the NEM tokens have already been sent from the firm in an illicit manner

Few of the reports have suggested that around 500 million of the NEM tokens have already been sent from the firm in an illicit manner. Since that time, the company had already suspended most of its trading as well as the withdrawals. It has already been working to find out where this missing cryptocurrency has been landed up. But the exchange is considering compensating all those people who have lost their money due to this.

This hack is of the same scale just like the one called as the 2014 Mt Gox theft

 Well this NEM is another cryptocurrency just like the bitcoin, Ethereum and also the Litcoin. At present, it holds the eighth position in being the largest digital currency by volume. This cryptocurrency is actually a kind of the distributed ledger platform which is targeted at enabling the payments along with other types of the financial services too. This hack is of the same scale just like the one called as the 2014 Mt Gox theft and through that theft, the hackers actually made off with around $400 million in the Bitcoin.Due to this the Japanese exchange had to file for the bankruptcy too.

At present, NEM holds the eighth position in being the largest digital currency by volume

Although the amount of money that has been hacked is same, this online economy for the cryptocurrency has grown to a considerable extends over the past four years. Well, the occurrence of this incident is a kind of indication of the danger which actually leaves the tokens inside the trade apart from having a safer choice which can be an individual wallet or a kind of the equipment based alternative too.

The online economy for the cryptocurrency has grown to a considerable extends over the past four years

 Earlier in the month of November, the company claimed that it had lost 31 million due to the assault when the EtherDelta had suspended the trade benefits of the exchange for a period in the month of December. Well, the speculations have been bubbling up from the past few days when this exchange has halted the sale and also the buy as well as the withdrawals of the NEM tokens from the trade. The total cost of this NEM had already dipped from the high of around $1.01 a few days back for accessing $83 during the time of the crafting itself.

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