Last month the crypto world imploded under one of the biggest attacks to ever hit the crypto community. CoinCheck, a popular exchange based in Tokyo, Japan got hacked out of $712.6 million worth of NEM. Investigations were carried out and the exchange was inspected by Japan’s FSA, yet nobody has been caught and none of the money has been returned. Up until now nobody know what became of the millions.
According to analysis by a data security expert, the missing cryptocurrency is now being sold at discount price on the dark web. The dark web is content on the internet that can’t be reached with specific software and authorization. It is there that the stolen cryptocurrency is being traded for different currencies on other exchanges.
This dark web discovery first popped up around the 7th of February. There was a website that was exchanging NEM for a number of other cryptocurrencies, including Bitcoin. The website garnered clients by sending out messages that had a link to the site and notion that the NEM can be purchased with a 15% discount. ‘
One of the main allures of this exchange operator is that he doesn’t require the traders to use their identity when they open accounts. The specialist has further stated on the matter, “It seems that third parties who acquired discounted NEM sell it via a vendor that makes it difficult to determine their identities. After acquiring bitcoin or other currencies, they could repeatedly buy and sell discounted NEM to make a profit,”
No doubt, when it comes to the stolen currency, the people responsible are wasting no time in selling it. Since February 7th over two hundred transactions have been made on this exchange. Despite now knowing the outcome of the stolen currency, there is still nobody to hold responsible for the heist. Many speculations have been reached, but nothing at this point is certain.