Chinese Citizens Launder $100M for North Korean Crypto Hackers

In a case that reveals the extent to which North Korea has been using crypto to circumvent international sanctions, two Chinese nationals were charged with laundering more than $100mn for North Korean hackers. North Korean Crypto Hackers Aided By Chinese This Monday, the U.S. Justice Department charged the two men amid court filings that unravel Pyongyang’s use of cyberattacks and hacks to get around global sanctions imposed against it. According to an indictment filed in […]

Japanese Crypto Exchange Coincheck To End Leveraged Trading

coincheck ends leverage crypto trades

The Tokyo-based crypto exchange, Coincheck, announced that it is terminating its leveraged trading service, in a blog post this morning. Settlement and Transfer Deadlines The planned end date for leveraged crypto trading is 12:00 on Friday, March 13, 2020, by which deadline all open positions should be settled. Customers will then have until the end of March 2020, to transfer any Japanese Yen balance in Coincheck’s leverage account to their own trading accounts. Positions not

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Japan: Monex To Pay Bitcoin Dividend To Shareholders With Coincheck Account

Bitcoin monex japan

The owner of Japanese cryptocurrency exchange, Coincheck, has announced it will award Bitcoin to its shareholders in a new shake-up. Monex Shareholders To Get 500 Yen In Bitcoin In a statement on September 24, online broker Monex Group said it would give 500 yen in BTC to anyone who owns more than 100 shares and has a Coincheck account. The move seeks to complement a previous incentive scheme under which shareholders received so-called Monex Points

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Japan and Korea Officially Approve Their Biggest Crypto Exchanges

South Korea’s Internet & Security Agency (KISA) has granted an important certification to the country’s leading cryptocurrency exchange Bithumb. Meanwhile, in Japan, Coincheck, the country’s largest exchange, is now registered with the Financial Services Agency.  Bithumb Granted ISMS Certification Cryptocurrency exchange Bithumb has managed to obtain Information Security Management System certification from the country’s KISA. According to the official release, this is the highest certification system in the country. Cryptocurrency exchanges, which earn more than $8.99

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Bank of Japan Admits Its Role Would Be ‘Sharply Reduced’ by Cryptocurrency

Bank of Japan Says Its Role Would Be 'Sharply Reduced' by Mainstream Cryptocurrency

A top-level executive from the Bank of Japan (BOJ) revealed that the country’s central bank doesn’t plan to issue a digital currency. The BOJ justifies this decision by identifying major obstacles which prevent their further widespread adoption.   Spoken Like a True Banker Masayoshi Amamiya, a deputy governor of the Bank of Japan, revealed the bank’s position on cryptocurrencies. Speaking at a lecture during the autumn annual meeting of the Japan Society of Monetary Economics,

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Cryptocurrency Exchanges Lost $882 Million to Hackers in Two Years, Report Finds

Cryptocurrency Exchanges Lost $882 Million to Hackers in Two Years, Report Finds

A recent report by cybersecurity company found that over the past two years cryptocurrency exchanges have lost $882 million to hackers. The report also warns that the trend is likely to increase in the future as hackers direct more of their attention to exchanges. $1.3 Million Lost Every Day Moscow-based cybersecurity company Group-IB has released a report on the hacker attacks against cryptocurrency exchanges in the last two years, indicating that $882 million have been

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In Japan, Exchange Operators Shore up Investor Protections After Thefts

The Japan Virtual Currency Exchange Association says it will tighten investor protection stipulations after a wave of hacks on digital currency exchanges. Citing informed sources, the Japan Times reported the Japan Virtual Currency Exchange Association (JVCEA) has agreed to revise certain self-imposed rules to keep investors safe in the wake of hacks. The JVCEA is set to place a cap on the number of cryptocurrencies managed, which will reportedly equal between 10-20% of customer deposits.

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Bithumb Hack: Exchange Confirms It Will Reimburse All Users

South Korea’s largest cryptocurrency exchange, Bithumb, has confirmed that it indeed lost 35 billion won ($31.4 million) in this week’s high-profile hack — which it will repay to users in full.  Bithumb: Amount Lost Could ‘Decrease’ In an update posted on June 21, the Bithumb said it was beginning “recovery” processes and that the total losses from the recent hack could ultimately decrease. Officials announced: Bithumb is reducing the amount of losses through its ongoing disaster

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Monex Owned Coincheck Confirms Delisting of Privacy Coins

CoinCheck has plans to remove 3 privacy coins – Monero, Dash, and Zcash – from their platform along with an ERC-20 token which elicits gambling on a non-regulated platform. Cryptocurrency Privacy: Is It Under Attack? Coincheck has just announced that they will be ceasing the trading of 4 cryptocurrencies on their platform. These currencies being Monero, Dash, ZCash, and Augur, listed in order of market capitalization. Coincheck plans for the delisting of these projects to

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Monex CEO Says Cryptocurrencies Could Take off like Derivatives Market

During a talk at the Japan Society in New York, the CEO of the Monex Group made connections between the derivative market in the early 1980s and the current state of cryptocurrency. He implies that the crypto world will experience similar growing pains and market sentiment like what was seen with the derivative market in its infancy.  After taking a move which some regard as a total 180 from prior practices, the Monex Group decided

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Monex Group Gives Coincheck New Life

Many in Japan feared its cryptocurrency market would grind to a halt following the hack of the Tokyo-based exchange, Coincheck. It appears that those fears were unwarranted, however, as the exchange is set to remain operational under Monex Group. More Than Profitable Monex Group Inc., a Japanese online brokerage, finalized its acquisition of Coincheck last week for nearly 3.6 billion yen ($33 million). The acquisition comes after Coincheck’s security was penetrated on January 26th, earlier

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Coincheck Posts Significant Profit, Despite High-Profile Heist

Despite experiencing one of the worst heists in the cryptocurrency market’s history, Coincheck has still managed to turn a significant profit. Can’t Nobody Hold Coincheck Down As reported by Reuters, Japanese cryptocurrency exchange Coincheck Inc. has recorded a writedown of roughly $432.56 million for the financial year ending in March. The information comes directly from the exchange’s parent company, Monex Group Inc. Earlier this year, Coincheck notoriously suffered a hack which saw the exchange lose

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Japanese Crypto Exchanges Launch Self-Regulatory Body

The 16 registered cryptocurrency exchange services in Japan have come together to form the Japan Cryptocurrency Exchange Association (JCEA). This is according to a report by Asahi Shimbun, a local news outlet in Japan. The JCEA will be responsible for the self-regulation of Japanese cryptocurrency exchange platforms. The JCEA Taizen Okuyama is the chairman of the JCEA. He is the CEO of Money Partners, a forex firm which recently entered into the cryptocurrency exchange market

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Japan Needs to Have Stricter Exchange Regulations According to Monex

Hot on the heels of their Coincheck acquisition, Monex has stated that Japanese exchanges need to have tougher regulations in place. Japan has long been known for being a crypto-friendly country. In fact, they saw phenomenal numbers last year when $97 billion was traded in just one month. In addition, reports for the 20th of April show that Yen-based Bitcoin trades made up more than 50% of global trades over a 24-hour period. As regulation

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Engineers in Short Supply for Japan’s Red Hot Crypto Market

As the cryptocurrency industry continues to grow and expand at a rapid rate, an issue has become clear across the board: there is a severe shortage of skilled engineers to keep up with the pace. According to The Asahi Shimbun, this is one of the reasons given by Coincheck for their devastating hack in January. The exchange’s CEO, Koichiro Wada, explained: We were aware we didn’t have enough people working on internal checks, management and

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Coincheck Confirms Takeover By Monex Group

Monex Group’s recent announcement of an acquisition of Coincheck has been approved by both parties. What is the future of the cryptocurrency exchange? A week ago, Monex Group, a Japanese-based financial services firm, announced that they were planning on acquiring the Japanese cryptocurrency exchange, Coincheck. This deal, which was all the talk over the past few days, was recently confirmed by both parties. A Tough Start to 2018 Earlier this year, Coincheck suffered a hack

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‘Don’t Be Greedy’: Cryptocurrency Scammers & Hackers Have Raked In $670 Million So Far This Year

You think your losses from hodling been bad this year? Odds are, they pale in comparison to losses accrued from hacks and scams. A Bull Run for Crypto Scammers According to data shared with Business Insider, hackers and scammers have made already off with $670 million in cryptocurrency this year. The data comes from cryptocurrency investment advisors Crypto Aware, which has collected information on every major cryptocurrency-related hack and scam since June 2011. During that

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‘Don’t Be Greedy’: Cryptocurrency Scammers & Hackers Have Raked In $670 Million So Far This Year

You think your losses from hodling been bad this year? Odds are, they pale in comparison to losses accrued from hacks and scams. A Bull Run for Crypto Scammers According to data shared with Business Insider, hackers and scammers have made already off with $670 million in cryptocurrency this year. The data comes from cryptocurrency investment advisors Crypto Aware, which has collected information on every major cryptocurrency-related hack and scam since June 2011. During that

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Monex Shares Soar Amid Rumor of Buying Coincheck Bitcoin Exchange

The market cap of Japanese online broker Monex Group shot up 20% April 3 after rumors spread about it buying troubled cryptocurrency exchange Coincheck. Monex Shares Surge 20% Data from Bloomberg currently circling social media shows the company attaining a market cap of $1 billion, up from $800 million. Shares had made gains from 344 to 424 yen per piece. The news, originally reported by Nikkei but which Monex has not yet officially confirmed, comes

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Crypto-Positivity Still Big in Japan Despite High Profile Hacks

As the flying taxi swoops past a building-sized electronic billboard, my robot driver flicks a switch. A screen bursts into life: Five high-pitched squeals in unnecessarily shiny costumes make a noise vaguely resembling music. The message is clear. I swipe my communicator against the console in the taxi and gasp at the questionable number of credits it takes for the ride. And the relentless pounding rain tries and fails to wash the criminal scum from the streets

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