Glossary
Coincheck Hack (2018)
The January 2018 theft of ~$530M in NEM (XEM) from the Japanese exchange Coincheck — at the time the largest single crypto exchange heist by value.
On January 26, 2018, attackers exploited Coincheck's hot wallet to steal approximately 523 million NEM (XEM) tokens, worth ~$530M at the time and surpassing Mt. Gox's prior record. Coincheck had been storing the NEM on an internet-connected wallet without multi-sig.
NEM Foundation marked the stolen funds and attempted to track their laundering through dark-web exchanges. Most of the funds were eventually washed through other venues. Coincheck repaid affected users from corporate funds and was acquired by Monex Group later in 2018.