The Japanese digital currency exchange, Queen Chuck, one of the country's biggest bourses, has been the victim of a huge breakthrough, losing 523 million currencies, worth about $ 534 million.
The coins were stolen through several unauthorized transactions from a purse connected to the Internet at 3 am local time on Friday, January 26.
After the breach, the Quinn Chuck stock exchange held a press conference on the Nikoniko platform in a live broadcast to give details of what happened and what will follow.
"Neem" was stored with a wallet connected to the Internet, and your private key had been stolen
The penetration only included the "NIM" coin, and no other digital currency, including RIBL, was stolen, contrary to earlier reports published by Quentelligraff.
According to stock exchange representatives, hackers were able to steal the private key of the Internet-connected wallet where the digital currency was stored, enabling them to withdraw funds.
Since all the stolen money belongs to the stock exchange clients, Queen Chuck reported the "unauthorized" transfer of funds to the Japanese Financial Services Agency, as well as the police later in the day
Shortly after the breach, the company stopped all withdrawals from the site, hoping to stop any further damage to its funds. Asked if they would begin to allow "at least" paper currency withdrawals soon, Queen Chuck replied that this would be done after determining the best way forward.
It turned out that the money was stored on a simple online wallet instead of a more secure MultiSig portfolio.
The bourse expressed its willingness to refund all lost funds, but they are still studying how to deal with the situation. According to the press conference, the "worst case scenario" is that money can never be returned.
When asked if they had any words for customers, representatives of "Queen Chuck" said they were "very sorry" for what happened.
Welcome bro
$534million loss!! I didn't know that.