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$533 million worth of coins were lost by Coin Check in a hack on Friday. At this point, the exchange says it will make users whole to the tune of $425 Million. That will equal about .8147 cents on the dollar. Coin Check Estimates 260k traders were affected.
Coincheck told a late-Friday news conference that its NEM coins were stored in a “hot wallet” instead of the more secure “cold wallet,” outside the internet.
This does not bode well for a region that is already highly skeptical about the coins.
Japan’s registry requirement for such operators is still being implemented.