Japan’s Government Warns on Cryptocurrency Trading After Coincheck Hack


Japanese authorities are investigating all cryptocurrency trading after last week’s hacking of cryptocurrency exchange Coincheck.

According to a Reuters report, yesterday the Financial Services Agency (FSA) ordered improvements to operations at Coincheck.

Last week, hackers stole 58 billion ($534 million) of NEM coins from the exchange. Since then, Coincheck has halted all cryptocurrency trading except for bitcoin.

The Coincheck heist is not the first of its kind. More recently last month South Korean cryptocurrency exchange, Youbit was also hacked, causing the nation’s regulators to crackdown on crypto-trading.

Read more on New York Times and Reuters.

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