Coincheck Suffers Largest Cryptocurrency Hack

January 29

Last Friday, Coincheck, which calls itself the leading Bitcoin and cryptocurrency exchange in Asia, acknowledged that it had been hacked and that 500 million of its NEM tokens (valued at about $530 million) had been taken from Coincheck’s digital wallets.  This hack now surpasses the 2014 Mt. Gox hack as the largest one in history (to date).  Interestingly, Coincheck has identified and published 11 addresses where all of the stolen coins ended up. Each one has been labeled with a tag that reads “coincheck_stolen_funds_do_not_accept_trades:owner_of_this_account_is_hacker.”

David Zaslowsky has a degree in computer science and, before going to Yale Law School, was a computer programmer. He is currently the Chairman of the Litigation Department of the firm’s New York office. His practice focuses on international litigation and arbitration. He has been involved in cases in trial and appellate courts across the United States and before arbitral institutions around the world. Many of David’s cases, including some patent cases, have related to technology. Since 2008, David has been included in Chambers for his expertise in international arbitration.