$530 million cryptocurrency Coincheck heist may be biggest ever

Coincheck, a crypto currency exchange in Japan, is coming under fire after it revealed hackers stole $530 million from its users. The exchange has promised to partially refund the 260,000 investors who were affected by the theft, though they didn't say when the refunds would be issued, or where they'd get the money from.investors affected by the theft, although it didn't say when it would do so or where it's getting the money from.

When the theft is confirmed, it's expected to rank as the biggest such theft on record, eclipsing the estimated $400 million in bitcoin stolen from Mt Gox in 2014.

Coincheck claims the hackers stole customer deposits of NEM. The exchange promised to pay out ¥46.3 billion ($426 million) toward covering its users' losses. That's about 20% less than the total value of the virtual tokens that were stolen.

Source: CNN http://money.cnn.com/2018/01/29/technology/coincheck-cryptocurrency-exchange-hack-japan/index.html