Biggest known cyber heists
January 29, 2018 -- Japan’s Financial Services Agency has said it would inspect all cryptocurrency exchanges and ordered Tokyo-based Coincheck to improve operations after hackers stole 58 billion yen ($534 million) of XEM coins last Friday.
The Coincheck heist adds to a long list of thefts at cryptocurrency exchanges and highlights the vulnerabilities in trading an asset that global policymakers are struggling to regulate.
The hack is the biggest since the robbery of Tokyo-based Mt. Gox in 2014. Hackers have stolen more than $1.5 billion in cryptocurrencies in the past four years.
Last year, Japan became the first country to regulate exchanges at the national level. South Korea has suggested it will ban trading in bitcoin and other cryptocurrencies while Chinese regulators have decided on a “comprehensive ban” on platforms that allow people to buy or sell virtual currency.