That's alarming!! This is one of the most important concerns that's going to hinder the growth of crypto space! For crypto to grow mainstream more trust should be built and such incidents simply turn away people from getting in! 😒

@zer0hedge. This is really very bad news bro. Some also stolen bitcoins to my unocoin account. I don't know how they hack my account. Nearly 1 month back this incident was done. Nice post bro. Thanks for sharing.

So you're saying we should buy NEM? I mean the only reason it dropped this much is because of this right?

This is why I don‘t keep larger positions on exchanges. Just transfer your coins to a paper or hardware wallet and HODL.

Nem is a new currency? Anything else. Please tell me.

People are finally going to realise the importance of a decentralised exchange and this is probably where bitshares is going to grow. Looking for to a decentralised future.

While, on the surface this looks like a black mark against cryptocurrencies, it actually could work in its favor.

Holding crypto on a centralized exchange can be hacked....yet on a decentralized blockchain (ie an exchange on the blockchain like BTS), then hacking cant happen.

This is something that is going to really start to awaken people to the danger of centralization.

You're absolutely right that if the software code is open source then the value is not so much in the code but in the network. Anybody can, e.g., copy the Ethereum network (and some did) but noone has managed to attract - by a wide range - the same number of nodes and developers. And the security of the blockchain heavily depends on network size. To state that there is no value in a large decentralized blockchain is simply not true. The 900+ projects that decided to build their applications on the Ethereum network clearly indicate otherwise. A few examples: Several big banks are currently automizing their compliance functionalities on Ethereum. Innogy, the clean energy subsidiary of German energy giant RWE, has put its entire EV fueling stations on Ethereum. And even the United Nations use Ethereum for their World Food Program. Obviously, those companies disagree that there is no value to them in the Ethereum blockchain. And for using their applications they need Ether, the native token of Ethereum. So, Ether may not be an asset as it does not generate cash flows but it surely is some kind of commodity that allows users to use the blockchain.
@zer0hedge

well what can i say it is happening too much now i mean people should take care of there money and there coin they should keep the coin in different wallets putting all your money in one place can loss you everthing i am just not gatting why is this happening to much and no one is doing nothing for it  i love the post kep updating us

@zer0hedge..bro Up until this event, Cryptos had been stolen for about $400 million so today is a one day double of Cryptos..The idea is theoretically possible however the "hack" can easily be confirmed by seeing the transaction on the blockchain explorer ... if you see it there then genuine coins were moved out of the exchange "slush fund" and onto the blockchain and into someone's wallet.  Those coins had to really exist in the exchanges NEM cold wallet.  This would worsen the exchanges situation .. yes ?  the slush fund ..Washington recklessly accuses Russia and China of hacking while providing no evidence backing its claims.At the same time, it’s silent about most Internet servers located in America, facilitating its espionage, including hacking to obtain unauthorized data. Washington rules mandate doing what “we” say, not what “we” do.So in the U.S., our regulations (state that) if you're a bitcoin wallet you're subject to the same regulations as a bank."We want to make sure the rest of the world, and many of the Group of 20 countries are already starting on this, have the same regulations. We encourage fintech (financial technology) and innovation but we want to make sure all of our financial markets are safe," he said.They are sowing FUD and shaking in their boots.thank you for sharing  info with us...

If they wanted to save their business the same way BitFinex did they should halt withdrawal and give a haircut of everyone's balance.

But the fact that the amount stolen would could have collapsed NEM's global market make the whole thing a huge clusterfuck.

Example : Some guy has 80% of STEEM's supply on an exchange that get hacked. Although he would have crashed the price to near 0 by selling even 1% of that, he's incurring a liability far far bigger on the whole market.

Reading the article there are so many things being pointed out but some of them are quite scary and all relate to security issues and not being licensed by the Japanese Financial Services and the use of hot wallets which they admit are not secure. Hopefully in light of what has happened and regardless of how much is lost this will cause them to look at all the security in place and upgrade what needs to be upgraded, if for no other reason than peace of mind for future investors - and we know there will be some

Wow, maybe a good time to buy some more?

The country's biggest Crypto currency exchanges check their code, without any explanation, stopped trading bitcoin withdraw their assets and customers.NEM based were forbidden to trade, and thus value lost 14.5 percent to $ 0.81 until it landed. The Tokyo-based company, according to Bloomberg News, without a license from the Japanese financial institutions, and this in spite of the country's most popular Crypto Currency exchange. On the other hand, the U.S. Treasury Department terrorism and financial intelligence Division for the supervision of banks and financial authorities of Asian Crypto currency activity, there are suggestions that must make more efforts.@zer0hedge

![cripto.jpg](https://steemitimages.com/DQmWXmUWdgC459Zqz5VxvLFnq7AHW9cExZ34hJoNhXWcFbN/cripto.jpg)
Follow Me!! Good post! Congratulations!
https://steemit.com/bitcoin/@cryptomet/back-to-the-future-because-cryptocurrencies-are-the-future

This is certainly unfortunate. That being it held up fairly well, I think it’s a solid coin.  It’s not the worst time to buy based on regression to the mean, which a system that has worked very well for me. If you’re not a math pro, it sounds more complicated than it is.  I’d like to post about buying and selling based on regression to the mean technique. I’m new to this site and I’ll wait for some followers. I think it a simple way to see long term (several monthes to a year) if a coin is over or undervalued, more important if the entire market is.  Follow me if you like, I trade with techniques I don’t see talked about much on here.  Happy trading and let’s hope tether is legit, I have much to say on that subject. Emmess

<b>WE REACHED OUT TO WWW.ZEROHEDGE.COM AND RECEIVED CONFIRMATION THAT THEY ARE NOT AWARE THAT THEIR CONTENT IS BEING USED ON STEEMIT AND THAT THEY DO NOT CONSENT FOR IT TO BE USED HERE FOR PROFIT.</b>

Copying/Pasting full texts of articles from known internet personalities without their consent, and without adding anything original is frowned upon by the community. 

Some tips to share content and add value:
- Using a few sentences from your source in “quotes.” Use HTML tags or Markdown. 
- Linking to your source.
- Include your own original thoughts and ideas on what you have shared.

Repeated copy/paste posts could be considered spam. Spam is discouraged by the community, and may result in action from the [cheetah bot](https://steemit.com/steemitabuse/@cheetah/cheetah-bot-explained).

If you are actually the original author, please do reply to let us know!

Thank You!

More Info: <a href="https://steemit.com/steemcleaners/@steemcleaners/abuse-guide-2017-update">Abuse Guide - 2017</a>.

@zer0hedge, I have a hard time undestanding how coincheck did not have a multi-wallet signature smart contract. That is absolutely unbeliavable, so unbeliavable that it's ridiculous. Another unbeliavable thing is how the markets reacted to it - they didn't. I really don't understand what's going on at the moment in the crypto world - wait and see I guess is the best strategy.

Very important thank you for your participation
Here are some victims of theft
Kaspersky Lab, a Russian company specializing in the field of security and electronic protection, said it has detected about 45 thousand attacks on the encryption software "WNA Krai" confirming that the Russian Federation was one of the countries most affected by these attacks.

According to the Russian Interfax news agency, Russian Interior Ministry servers were hit but that did not lead to the diversion of information. Russian media reported that the Russian mobile network company "Megavon" closed several servers of its computer network due to cyber attacks.

Sharbank, one of Russia's largest banks, has also announced that its systems have been attacked in a similar manner, which it claims has not affected its services because of the system of protection it relies on and faces such attacks.

The British newspaper The Guardian reported on Friday that the electronic system of the national health system "NHS" was subjected to systematic penetration caused by major technical problems.

Hospitals and clinics in cities and counties in Britain, including the capital London, were unable to access the patient's personal database, a spokesman said. He said all patient data had been encrypted by hackers demanding payment for the removal of the encryption system, There are no signs yet to indicate the success of hackers in stealing patient and employee data.

In Spain, several companies were attacked, and Telefonica said it had learned of an "electronic security incident" without affecting customers and services. It was also reported that Iberdrola Energy and Gas Natural were also affected by the attack , And instructed the employees of these companies to close their computers.

In France, Renault was the biggest hit, with the company saying it had stopped working at its plants in Sandoville, France and in Romania, to prevent the spread of the virus through its systems.    @zer0hedge

### ![craiu](https://pbs.twimg.com/profile_images/773129442155761664/XRkgL6y-_normal.jpg) **[Costin Raiu](https://twitter.com/@craiu/status/956860011061350401)** tweeted @ 26 Jan 2018 - 12:02 UTC

> 110 mil usd in [#Ripple](https://twitter.com/search?q=%23Ripple) (XRP) were sent from the Japanese cryptocurrency exchange Coincheck to an unknown address. H… [twitter.com/i/web/status/9…](https://t.co/pLiAeChvSB)


###### *Disclaimer: I am just a bot trying to be helpful.*

This is really an important topic
Since the morning and there are problems with the Japanese CoinCheck, which began to stop buying his work Nem and then was stopped selling and then was stopped all withdrawals of the platform in all forms and still the news of imports from the Yabat on this matter.

The news is that it was stolen by the value of 500 million dollars Net NEM done early in the morning. And there is no confirmed news yet. Perhaps this is why the market trend to red color today.

Its NEM fell by 17% today, higher than the other top 10 currencies in the coinmarketcap as well, and among the factors that may confirm the news of the theft. Since the simplest thing is that the thief sells his coins instantaneously so that all its effects are hidden and difficult to follow.

If this is true, its negative effect will last for at least 24 hours and will be considered the biggest theft ever made after MTGOX in 2011. And to remember the months of thefts in the field of encrypted currency were as follows:

Japan's MTGOX platform in 2011 was stolen by a total of $ 350 million, now estimated at 1.3 billion
The NiceHach platform two months ago promised the import of stolen goods last January 2018 worth 75 million dollars
Pfinx provided $ 70 million in USDT and the money was returned to subscribers over time
A process that was stolen by the Dai etherium that produced the etherium classic in 2012
The process of parity wallet, which differed opinions Are you stolen or wrong programmer? With a value of 30 million dollars in July 2017
BITSTAMP in 2015 with a value of $ 5 million
The IOTA governor, who was discharged from the currencies of 4 million, was not known by the official and the team explained that the reason for the fall of the owners of portfolios who were born seeds to the governor is unreliable and was about a week ago.

Thanks for the valuable participation.   @zer0hedge

well information in japan cryptocurrency   ..... keep it up

This is one of those times where we'll see people who dont like crypto say, "I ToLd yOu sO" Now I do think the exchange should be held accountable and that people should get back the money theyre owed

I mentioned in the article you wrote earlier. This is the big money barons. It was a purchase game as well. We're talking about over 400 million. Such a theft only It was made and it was. What will happen next. We know this in an advantage. We can invest a little more when the ready prices are low. We all know that these money will be worth it. Especially Ripple had a big drop. If the Japanese patrons allow it, it will really make a big leap. As you know, Ripple had lost a lot of value 3 months ago. It lost 50% before it went down. In short, there is the risk of losing Ripple. Take your own analysis to invest. I wanted to transfer the 2 directions. @zer0hedge

NEM is already going strong. I really love their tech.  The stupid exchange didn't use proper security. That's all. People have grown to know and see FUD. So I guess people were buying the dips like crazy. 

Market was down already. Nothing goes down forever. The coolest epic thing would be a new high for cryptos. That'll show how bad assume we are. I just hope STEEM would stay cheap. This is still my day zero on blockchain and I'm having a great time on busy.org 

I think I'm going to put some money into the platform. That should help me get follows. At the moment I have zero followers. That's d-zero on day zero with zero followers. 

This is actually my first comment. Keep up the fight buddy. (Fight Club is a 10/10 movie 4 me)
Glad 2 meet you and follow!

Seems that cryptocheck will compensate users by about 0.81 NEM for each NEM lost.. so some damage control is in place but that's a big loss neverthlesss. Probably decentralised exchanges will start flourishing more now given it's less susceptible to this kind of fraud

That is insane. Crypto is a crazy place right now. If we put something in place to governor it then it defeats the purpose of decentralizing it. So the real question is how to keep what you have earned safe.

that's a great post. i know lot's of info. thank u so much