There has already been a large number of high profile security breaches in 2018, but the recent cyber attack on Coincheck, one of the largest Japanese cryptocurrency exchanges, resulted in over $400 million worth of NEM coins (a popular cryptocurrency) stolen from their platform and transferred to an illicit hacker account.
Since the attack, Coincheck has stopped all deposits and withdrawals from their platform, which will most likely result in a HUGE business interruption and reputational harm financial loss. Additionally, Coincheck hired a forensic investigation team to track the location of where the NEM coins were sent and recently reported that they are evaluating different options to pay back the $400 million that was stolen from their customers.
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If you’d like to read more about this most recent cryptocurrency data breach, click here.