Tokyo-based cryptocurrency exchange Coincheck said on Sunday it would pay around 46.3 billion yen (425 million U.S. dollars) to the virtual currency owner who had been stolen by hackers two days ago. This is by far one of the largest digital currency thefts.

That amount amounts to nearly 90% of the 58 billion yen NEM coins stolen by Coincheck. The attack forced Coincheck to suspend the withdrawal of all other cryptocurrencies except Bitcoin on Friday.

In a statement, Coincheck said it will pay back the owners of some 260,000 NEMs in the yen at a time and mode that is still under study.

The burglary highlights the security and regulatory issues in bitcoin and other virtual currencies, even as global investment climate for such currencies is showing signs of regression.

Two sources familiar with the matter said the Japan Financial Services Agency has sent a notification to some 30 companies operating virtual currency exchanges in the country to remind them of the potential cyberattack and urge them to step up security measures.

One source said Japan's Financial Services Agency also considered applying the administrative sanctions to Coincheck in accordance with the financial settlement law.

<>Japan's Coincheck has pledged to pay about $ 425 million to NEM denominated owne
<>Japan's Coincheck has pledged to pay about $ 425 million to NEM denominated owne

 

PREVIOUS:The Taliban in Afghanistan's Kabul bombing raid has claimed more than 100 lives        NEXT:The Dow and the S & P 500 hit the biggest one-day drop in five months with falli