Japan punishes coincheck after $530 million cryptocurrency theft

Japan’s financial regulator on Monday ordered Coincheck to get its act together after hackers stole $530 million worth of digital money from its exchange, jolting the nation’s cryptocurrency market in one of the biggest cyber heists.

The theft highlights the vulnerabilities in trading an asset that global policymakers are struggling to regulate and the broader risks for Japan as it aims to leverage the fintech industry to stimulate economic growth.