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Nicholas Colas: hacking of cryptocurrency exchanges will continue

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Last week there was a major hacking of the Japanese cryptocurrency exchange Coincheck, as a result of which 523 million NEM coins were stolen. This forced the site to stop operations to withdraw all funds except Bitcoin. The total value of the stolen coins was about $ 534 million at the time of the theft. Although the cryptocurrency market stabilized quite quickly, experts believe that this break-in is just the beginning. In an interview with CNBC, analyst Nicholas Colas said that in the near future, we expect more attacks on cryptocurrency exchanges.

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Coincheck Exchange hacked, NEMs stolen for $530 million

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As the Japanese source MineCC reports, the management of the crypto exchange Coincheck officially announced the breaking and stealing of NEM tokens for $532 million. While it remains unclear, whether other cryptocurrencies were stolen. NEM developers and the community of open source developers have confirmed that there will not be a hardfire for the restoration of lost funds. NEM Foundation President Lon Wong said that there should be no complaints against NEM, and laid overall responsibility for the incident at Coincheck.

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