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Japan cracks down on cryptocurrency exchange

Japan’s Financial Services Agency (FSA) has conducted its first raid on a cryptocurrency exchange following the world’s largest cyber-heist.

The FSA raided the offices of Tokyo-based cryptocurrency exchange Coincheck on 2 February after $530 million of the digital currency NEM was stolen from its systems. Before conducting the raid, the FSA ordered Coincheck to deliver a report by 13 February outlining how the hack occurred, how it intends to respond to its customers, and how it will improve its security.

Nardello & Co.’s head of Digital Investigations & Cyber Defense, Mark Ray shares his insight on how the Coincheck matter is likely to play out in the coming days and weeks.

GIR subscribers can read the full article here.

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Start date: February 6, 2018


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