Tokyo Police Question NEM Trader Over Coincheck Theft

February 12, 2018 4:31 pm Published by

A domestic trader who converted a small portion of stolen NEM from Coincheck into Litecoin has been questioned by Japanese police, Cryptocoin News reported Monday.

Sources close to the investigation report police have questioned at least one person in connection with the hack, the report said.

The Nikkei reports the unidentified person had anonymously converted a small amount of the stolen NEM coins – tagged by Singapore-based NEM Foundation following the theft – into Litecoin via a dark web website.

The individual reportedly admitted to being aware the NEM sold was originally stolen from Coincheck and was tracked by the Tokyo police’s cybercrime division after police monitored websites on the dark web.

Few additional details are currently known, the report said.

In late January, Cryptocoin News reported, Coincheck executives confirmed a massive hack of 526 million NEM tokens, worth more than $530 million at the time. The stolen NEM tokens were subsequently split up between several digital addresses, all of which are being tracked by the foundation.

The theft investigation has already revealed at least one hacker possessing a portion of the stolen NEM, the report said, making attempts to trade the cryptocurrency into bitcoin, last week. The hacker reportedly offered a 15 pencent discount to bitcoin traders over the dark web to sweeten the deal with the Bitcoin-NEM swap.

Meanwhile, Coincheck has said it will re-enable withdrawals of fiat yen deposits to customers, starting Tuesday, the report said.


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