30 Japanese arrested for NEM token stolen in 2018 from Coincheck


A group of people who were found trading NEM tokens reportedly stolen from the Japanese cryptocurrency exchange, Coincheck, have been arrested by the Japanese authorities during the past two years. According to the authorities, they used an underground exchange constructed on the dark web to transform cryptocurrencies. While these perpetrators have been convicted, it is still not clear the identity of the real persons behind the 2018 hack.

Coincheck NEM token hack for Coincheck

The suspects used the unidentified underground crypto exchange, according to the article, to trade NEM tokens for other digital currencies, enabling them to cash out cryptocurrencies on international and other local trading platforms. The Metropolitan Police Department reported, following the price of the NEM token after the hack, that the 30 criminals traded on the dark network market numbered over $96,570,770 (or 10 billion Japanese yen).

The greatest trade in the supposedly stolen NEM tokens was made by two of the criminals, Takayoshi Doi (31) and Masaki Kitamoto (40). Last year, they were detained early in March, while some came later. According to the article, they have all been charged by prosecutors. The police said the Coincheck hack and those selling the NEM tokens will continue to be prosecuted, since “it is approaching the statute of limitations.”

Hack with Coincheck in 2018

In 2018, the Japanese crypto exchange was targeted. During the time of the incident, the hackers made off with NEM cryptos worth around $560 million (58 billion yen). While inquiries are still underway, attempts have also been made to retrieve some of the coins that were stolen. In August, Cryptopolitan announced that after security operatives demanded it, a Japanese court ordered the seizure of NEM coins accused of being from Coincheck.


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