The Biggest Crypto Hack Ever Bigger Than Mt Gox Hack even has taken place.
Biggest Crypto Hack Ever Bigger Than Mt Gox Hack
Mt Gox Hack was a hack that took place in 2014. Mt Gox Hack was at that time the biggest every Crypto Hack. It was a BitCoin Hack that had a loss of around $340 million.
This Hack was the biggest until January 26th 2018. One of the Biggest Japanese CryptoCurrency exchanges CoinCheck got hacked. Wakata Koichi Yoshihiro the president of that exchange estimates the loss to be around 58 billion yen. This is approximately $533 million. The hack although being more expensive loss than Mt Gox, may not have that big impact. Though years the situation has changed. 3 years ago, there were fewer CryptoCurrencies and such massive loss affected the whole BlockChain market.
NEM based XEM coin trading was suspended
CoinCheck suspended the trading of XEM tokens. However this was not all. CoinCheck froze most of its services. On its website CoinCheck announced that they had also restricted deposits, trading and withdrawal of XEM. 30 minutes later CoinCheck announced withdrawal suspension of all CryptoCurrencies and also Japanese yen. To top it up, CoinCheck later also restricted trading of all CryptoCurrencies. According the latest news other deposit options have stopped as well.
Hack effect to NEM BlockChain based XEM Token price
After CoinCheck announced the loss in press XEM price dropped from $1.01 to $0.85. Currently (31.01.2018) the XEM price has dropped to $0.7520. Check Current Price
How does this Crypto Hack affect the customers of CoinCheck?
The customers of CoinCheck lost a large amount of money however to their comfort there is yet hope. Executives of CoinCheck announced that they are looking into compensating its customers.
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01.02.2018 – EqEST