I heard the news that NEM Foundation vice president Jeff McDonald confirmed the development of the tagging system and the work NEM Foundation will lead in the next few weeks to prevent stolen funds from being cashed out or converted to other cryptocurrencies through trading platforms.
As of now, the hackers behind the Coincheck NEM security breach are out of options. It is not possible for the hackers to convert the stolen NEM to other major cryptocurrencies like bitcoin and Ethereum because the automated tagging system will immediately alert exchanges about the tainted funds.
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