By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Hackers Cart Away with $400 Million from Cryptocurrency Exchange
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
BusinessNews

Hackers Cart Away with $400 Million from Cryptocurrency Exchange

Farouk Mohammed
By Farouk Mohammed
Published: January 28, 2018
Share
1 Min Read
SHARE

One of Japan’s largest cryptocurrency exchanges has revealed that it’s lost nearly $400 million in a security breach.

Coincheck says that it has restricted deposits and withdrawals for a cryptocurrency called NEM, and Bloomberg reports that 500 million NEM tokens have been sent from the company “illicitly,” and that it’s not sure how.

The company has since suspended most trading and withdrawals, and is working to trace where the missing digital currency ended up. In a Tweet, the exchange said that it was considering compensating those who lost money.

NEM is a digital currently like Bitcoin, Ethereum, or Litecoin, and is presently the eight largest cryptocurrency by volume.

- Advertisement -

TechCrunch describes the currency as a “distributed ledger platform primarily aimed at enabling payments and other financial services.”

The hack appears to be roughly the same scale as the 2014 Mt Gox theft, in which thieves made off with $400 million in bitcoin, causing the Japanese coin exchange to file for bankruptcy.

However, while the dollar amount is comparable, the online economy for digital currencies has grown considerably in the last four years, and likely won’t have the same impact as the Mt Gox hack.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:BitcoinCryptocurrency ExchangeEthereumHackersLitecoin
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Terrorism Financing Must Be Stopped, Buhari tells African Leaders In Addis Ababa
Next Article PDP Is A Dead Party in Kano – Gov. Ganduje

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Okay.ng Logo

Parallel Market Rates

USD
Buy₦1,550.00
Sell₦1,565.00
GBP
Buy₦1,760.00
Sell₦1,790.00
EUR
Buy₦2,135.00
Sell₦2,170.00

Updated: 8 hours ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

0.00
ShareShareShare

Rates are for informational purposes only.

Okay.ng Logo Parallel Market Rates
USD
Buy
Sell
GBP
Buy
Sell
EUR
Buy
Sell
| okay.ng
- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

As Nigerian Banks Resume Naira Debit Card International Transactions: Limits You Should Know
News
Former Nigerian Army Chief Advocates for Compulsory Military Training
News
NNPP Declares Rabiu Kwankwaso Will Not Contest 2027 Presidency on Its Platform
Politics Top stories
NSA Nuhu Ribadu
Tinubu Administration Making Headway Against Nigeria’s Security Challenges, NSA Ribadu Affirms
Security
Aregbesola Warns ADC Supporters Against Insults, Urges Fact-Based Engagement with APC
Politics
- Advertisement -
Ad imageAd image

You May Also Like

International

President Bola Tinubu Arrives in Brazil for BRICS Summit to Strengthen Global South Cooperation

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 5, 2025
Natasha Akpoti-Uduaghan
News

Senate Sets Conditions for Senator Natasha Akpoti-Uduaghan’s Return After Court Nullifies Suspension

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 5, 2025
PoliticsTop stories

Sanwo-Olu and Wike Spotlight as ADC Targets Governors Amid Opposition Coalition Dynamics

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 5, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?