As one of the first Asian countries that supported and made legislation on cryptocurrencies on the digital market, Japan continues to remain vigilant and active in monitoring illicit activities that may arise in the crypto environment. Just recently, Tokyo District Court seized the $46,000 worth of Bitcoin (BTC) concerning 2018 hacked suffered by Coincheck exchange, the first reported crypto seizure.
Police arrest two men holding $46,000 worth of bitcoin related to Coincheck exchange incident in 2018 https://t.co/ak64wXskz5— Asia Times (@asiatimesonline) August 20, 2020
A local Japanese news outlet shared with Cointelegraph that Tokyo Metropolitan Police Department authorities have seized a total of $46,000 worth of Bitcoin (BTC) from two men identified as a doctor in Hokkaido and an executive from Osaka Prefecture.
They violated the country’s organized crime laws by purchasing the stolen NEM (XEM) cryptocurrencies through a dark web market, even though having an alleged awareness of the illicit activities behind it. In January 2018, Coincheck Exchanges declared a record-breaking hack losing almost $534 million worth of NEM from its wallets. Reports shared on the website named a researcher who claimed that a virus associated with Russian hackers infected Coincheck’s employees' personal computers on these crypto-related attack.
Earlier this year, Cointelegraph Japan shared that the same exchange faced another data breach involving unauthorized access to the platform’s domain registration service.