NEM, stolen from Coincheck in early 2018, is subject to confiscation in accordance with a Tokyo court ruling. According to local newspaper Kyodo, the court issued a protection order on the assets in anticipation of their seizure by the police.

Japanese court orders confiscation of cryptocurrency stolen from Coincheck

The NEM cryptocurrency, stolen from the Japanese exchange Coincheck in early 2018, is subject to confiscation in accordance with the decision of a Tokyo court. According to local newspaper Kyodo, the court issued a protection order on the assets in anticipation of their seizure by the police..

In January 2018, hackers stole about 500 million NEM tokens worth $ 530 million from Coincheck wallets at that time. Of these, assets totaling $ 46,000 were at the disposal of 30-year-old Takayoshi Doi from Hokkaido.

According to the prosecution, he knew about the origin of the cryptocurrency, but nevertheless decided to buy it on the darknet at a reduced rate. Doi was arrested in March, but he is not accused of involvement in the exchange hacking.

Doi transferred these assets to several exchanges. It is they who are subject to confiscation. To date, they have been frozen and will be transferred to the state after the final decision on the detainee's case is made. An auction will likely be organized to eliminate them..

Meanwhile, the search for the burglars themselves continues. According to the investigation, they tried to hide their traces by distributing the cryptocurrency across many domestic and foreign exchanges. Some of the stolen assets were exchanged for other cryptocurrencies, including bitcoin, the prosecution claims.

Similar articles

• BitFlyer Europe users will be able to fund their accounts with bank cards The European arm of the licensed Japanese exchange BitFlyer this Thursday announced the addition of an “instant buy” option for cryptocurrencies, allowing users to purchase digital assets using debit and credit cards, as well as local payment systems such as Sofort. iDeal and GiroPay.

  European BitFlyer users will be able to fund their accounts with bank cards The European division of the licensed Japanese exchange BitFlyer in this...

• KuCoin will open an over-the-counter service with support for the yuan and other fiat currencies According to the publication, the solution is aimed at expanding trading opportunities and increasing the number of supported payment methods..

  KuCoin To Open OTC Service With RMB and Other Fiat Support KuCoin Crypto Exchange Announces Preparation For Launch This Saturday...

• Switcheo will launch an analogue of Uniswap on the Zilliqa blockchain with its own token Developers of the Switcheo decentralized exchange today announced the Zilswap trading platform.

  Switcheo will launch an analogue of Uniswap on the Zilliqa blockchain with its own token Developers of the Switcheo decentralized exchange today announced a trading...

• Ethereum Sinks Instantly To $ 13 On Coinbase Pro But Rebounds Quickly.

  Ethereum experienced an instant crash to $ 13 on Coinbase Pro, but quickly recovered as the third largest cryptocurrency Ethereum over the past...

• Bitfinex launched index swaps for European stock markets Cryptocurrency exchange Bitfinex launched stock index derivatives paired with USDT stablecoin, thus expanding its offer beyond digital assets, writes The Block.

  Bitfinex has launched index swaps for European stock markets Cryptocurrency exchange Bitfinex has launched stock index derivatives paired with...