Crime involving cryptocurrencies appears to be on the rise at a time when the total number of reported crimes in Japan is falling.
The theft of 523 million NEM coins from Tokyo-based cryptocurrency exchange Coincheck Inc. on Jan. 26 has brought this issue to a head in recent weeks, with the company claiming to have lost a total of ?58 billion in the heist.
The theft will have the knock-on effect of lowering public trust in virtual currencies, and it¡¯s worth noting that the country¡¯s Financial Services Agency (FSA) had warned Coincheck to address security concerns regarding the way it manages customer assets before the event.
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