Coincheck Hack: A $530 Million NEM Theft Unveiling Centralized Exchange Vulnerabilities

Summary # In January 2018, Coincheck, one of Japan’s largest cryptocurrency exchanges, suffered a colossal security breach, resulting in the theft of approximately $530 million worth of NEM tokens. This incident shedding light on the vulnerabilities inherent in centralized exchanges and emphasizing the urgent need for robust security measures within the crypto ecosystem. Attackers # The perpetrators behind the Coincheck NEM security breach were linked to a Canadian exchange and a Japanese exchange called Zaif, as identified by the BIG Blockchain Intelligence Group Inc. ...