Tokyo - Japan's policy regulator imposed sanctions on Coincheck, a virtual currency exchange a la Bitcoin Japan, after a clean sheet that hit him.
As is known, Coincheck lost 523 million coins of NEM (Japanese virtual currency) worth 58 billion yen or about Rp 7.1 trillion. A total of 523 million NEM coins are known to be sent to another account on Saturday (27/1) at 3:00 am local time.
Quoted from ZDNet, Monday (29/1/2018), this burglary revealed a vulnerability in asset trading. This has led global policymakers to struggle to regulate it.
Furthermore, this vulnerability in asset trading also exposed the risk for Japan seeking to stimulate the growth of the fintech industry aka financial technology to stimulate economic growth.
In light of this negligence, the Financial Services Agency (FSA) ordered Coincheck to make operational improvements. Shortly after conceding, Coincheck temporarily restricted the withdrawal of all currencies, including yen, and cryptocurrency trades besides Bitcoin.
Tokyo-based virtual currency market shares said it will return about 90% of internal funds, although not yet know how and when.
Japan began to require government-registered cryptocurrency exchange operators since April 2017. This enables existing operators such as Coincheck to continue offering services ahead of official registration.
So far, the FSA has registered 16 cryptocurrency exchange operators. While 16 other operators are still waiting for approval while still operating.
Source:https://m.detik.com/inet/security/d-3839589/jepang-beri-sanksi-akibat-kebobolan-bitcoin-rp-71-triliun
(rns / rou)