Japan Plans To Ban Cryptocurrency From Coincheck Hack

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A district court in Toyko has ruled against the usage of cryptocurrency asset which have been stolen from Coincheck – a virtual currency exchange operator.

Investigative sources have found out that the court ordered a company set up by Takayoshi Doi, who was indicted over allegedly obtaining the leaked cryptocurrency NEM, to protect the assets for future confiscation based on the organized crimes punishment law.

It is the first such incident to come from the country.

A 30-year-old doctor was arrested for getting the NEM after it was stolen in 2018 cyberattack. ¥58 million is said to be the total funding of the NEM which was stolen.