27.01.2018 The crime of the century?

It’s hard to judge, because the century is still at its beginning, but for sure this event will enter the rating of the largest thefts of the 21st century!

Today, the withdrawal of funds from Japan’s largest cryptocurrency exchange Coincheck was suspended, and NEM deposits were frozen. The market, as expected, reacted.

But then the press conference was held and it stirred the minds of the public. Representatives of Coincheck announced NEM amounting 58 billion yen (equivalent to $ 533 million) disappeared from their account in an unknown direction. President of the NEM Foundation, Lon Wong assured: everything is all right with the NEM technology, and the theft occurred solely through the exchange`s fault, since it hadn`t used the multi-signature function. He also announced that there were no plans to hold a fork for a refund. Wong called on cryptocurency exchanges to actively use the currency, but the function of multi-signature must be a prerequisite.

The coin`s exchange rate fell sharply from $ 1.02 to $ 0.76, but has already begun to stabilize. We will follow the developments, wishing the leadership of Coincheck and the NEM Foundation to cope with the crisis situation as quickly as possible and with the least losses.