Japan Seizes Crypto for the First Time After The Court Gave Orders

A court in Tokyo has set an example for the crypto industry in Japan.

For the first time in Japan, some cryptocurrencies have been seized from suspected criminals. The amount recovered is about $46K. The money was gotten from the activities that followed after Coincheck Exchange was hacked two years ago.

The money was kept under the custody of a doctor and a top official at Osaka, according to Kyodo. These ones were also arrested to say what they knew about the hack.

Their offence was that they went to the dark web to buy some stolen NEM (XEM).

The story about Coincheck’s hack spread like wildfire then. The company lost NEM worth about $534 million.

Asahi Shimbun did a research in which it was found out that Choincheck’s personal computers were used for hacking after being obtained by Russians.

As if the 2018 incident was not enough, another one happened to Coinchek in June this year. This time, the attack created a loop hole for everyone, especially cyber criminals to operate from.

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