A Japanese Court Just Ordered the Nationâ€™s First Cryptocurrency Seizure
A Tokyo court sets a precedent in the Japanese crypto industry.
The Tokyo District Court has issued Japanâ€™s first ever crypto seizure. $46,000 worth of Bitcoin (BTC) was expropriated in relation to a hack suffered by the Coincheck exchange in 2018.
Kyodo reported that police have already seized the BTC, which was held by a doctor from Hokkaido and an executive from the Osaka Prefecture. The two men were arrested in connection with the hack.
As Cointelegraph reported in January 2018, Coincheck suffered a record-breaking hack when $534 million worth of NEM was stolen from its wallets.
Research by Asahi Shimbun alleged that personal computers belonging to Coincheckâ€™s employees were found to have been infected by a virus associated with Russian hackers.
The exchange suffered another data breach in June 2020, involving unauthorized access to the platformâ€™s domain registration service, Cointelegraph Japan reported.
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