Hackers Stole a Virtual Currency For Half a Billion Dollars

Hackers who stole around $530 million worth of cryptocurrency from the Coincheck exchange last week - one of the biggest such heists ever - are trying to move the stolen "XEM" coins, the foundation behind the digital currency said on Tuesday.

NEM Foundation, creators of the XEM cryptocurrency, have traced the stolen coins to an unidentified account, and the account owner had begun trying to move the coins onto six exchanges where they could then be sold, Jeff McDonald said.

Hackers made off with roughly 58 billion Japanese yen ($533 million) worth of the cryptocurrency from Tokyo-based exchange Coincheck Inc late last week, raising fresh questions about security and regulatory protection in the booming market.

The location of the hackers' account was not known.

"[The hackers are] trying to spend them on multiple exchanges. We are contacting those exchanges," Mr McDonald told Reuters from Singapore./ Telegraph.co.uk

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