RATE Group | Tokyo police arrest two for taking possession of stolen NEM cryptocurrency
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Tokyo police arrest two for taking possession of stolen NEM cryptocurrency

11 Mar Tokyo police arrest two for taking possession of stolen NEM cryptocurrency

Posted at 13:48h in Cryptocurrency News by

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Tokyo police arrested two men on Wednesday for alleged possession of NEM, a cryptocurrency, that they knew was stolen in a massive cyberattack on a Japanese startup in 2018, according to investigative sources.

The Metropolitan Police Department arrested a doctor in his 30s from Hokkaido and a company executive in his 30s from Osaka Prefecture for the suspected dealing in crime proceeds, a violation of a law targeted at organized crime.

According to the sources, the two suspects knew that the cryptocurrency they acquired was part of the ¥58 billion worth of NEM stolen from the cryptocurrency exchange operator Coincheck Inc. on Jan. 26, 2018. In the incident, almost all NEM owned by Coincheck’s clients was fraudulently accessed and stolen.

The MPD suspects that the two traded other currencies such as Bitcoin for the stolen NEM in February and March 2018.

The arrests are the first linked to the Coincheck attack. The MPD set up a task force staffed by some 100 investigators to…

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