Greed turned to fear in the cryptocurrency markets this week, following what was believed to be the largest theft of cryptocoins ever.

Last Friday, thieves hacked into Coincheck, a cryptocurrency exchange in Japan, and walked away with over $530 million worth of Nem, an alt-coin that saw its price rise 574% to $1.90 in one month from early December to early January. It’s now sitting at under $0.70.

For its part, Coincheck has said it will reimburse nearly every Nem at $0.81 on the dollar.

Still, this speaks to one very big uncertainty when deciding to invest in cryptocurrencies: How do you keep your investment safe?

Read it now! http://enternations.com/thread/213/safer-ways-own-bitcoin-cryptocurrencies

Nem hacked them

updated

The president of Coincheck, Oki Matsumoto said that he is unsure about reopening of cryptocurrency exchange Coincheck following $500 million hack that happened in January, according to the statement of MineCC, a cryptocurrency miner and analyst.

Coincheck was a major Japanese exchange until it suffered the largest security breach in the history of the cryptocurrency market, losing more than $500 million in XEM in a hacker attack.

After the accident, the cryptocurrency exchange lost its license, became unable to operate in Japan and was requested by the government to reapply, as a new executive took over the platform.

https://ihodl.com/