Japan
Arrests Two for Buying Crypto Linked to Coincheck’s $500 Million Hack
Authorities in Japan have
arrested two men in Tokyo for buying cryptocurrency linked to the hack of
Japan’s cryptocurrency exchange Coincheck in 2018, which at the time saw it
lose $500 million worth of NEM.
The two were allegedly arrested
for obtaining the proceeds of crime, which is illegal under the law relating
to the punishment of organized crime. One of the two reportedly said he knew
the tokens were stolen.
These are the first arrests
associated with what is believed to have been the largest hack in
cryptocurrency history, as over $500 million worth of crypto were taken. The
hack is believed to have been bigger than that of Mt. Gox, as the latter lost
$340 million worth of BTC at the time.
Tokyo police formed a task
force to investigate the security breach shortly after it occurred. In late
2018, after the hack, the Monex Group took over Coincheck, which has been approved for an operating license last year.
