$534 million losses from CoinCheck by hackers believed from Russian
It was January 2018, when a Bitcoin wallet and exchange service, CoinCheck, which operates exchanges between Bitcoin, ether and fiat currencies in Japan, and Bitcoin transactions and storage in some countries, suffered huge Cryptocurrency exchange theft.
This was the biggest theft recorded in the history where the platform got a loss of more than $530 Million worth NEM tokens taken from the digital wallets. According to the report related to this incident came up in 16th of June, two viruses namely Mokens and Netwire, detected in employee’s computers, were the reason behind the crime.
Previously, it was believed that the hackers were from North Koran side. Russian belonging hackers distributed these viruses and operated the transaction from their server remotely, latest analysis held by US Cyber Security experts showed.
Netwire and Mokens Viruses
According to the initially published reports, these two viruses –Netwire and Mokens have definite relation with Russian hackers. However, these are the older threats. Mokens is one whose malicious script has been known since 2011 and Netwire came up into wild 12 years before. Netwire is a Trojan virus which main target is to record keystrokerss and collect information. On the other hand, Mokens focus on info-stealing targeting passwords. In addition, it also employs backdoor for other malware to get inside the affected computer.
Analysis has showed, the Coincheck might get damaged to its internal parts besides the wallet hack. However, no evidence about it has been revealed yet.
North Korea or Russia –again a doubt
Russian hackers were responsible for the DNC server hack during 2016 elections and are very dangerous. By looking this, if they were responsible for CoinCheck Bitcoin hack, there might some more damage occurred.
Further, it might possible that North Korean hackers would be the one who was responsible for the CoinCheck walltet transaction theft. This is because this particular group dubbed Lazaus and then named Bluenoroff specializes in such financial attacks. Investigation is ongoing to determine how much between the two countries hackers were responsible for the theft. There is also need to determine the total losses.
Look upon the facts below:
- The NEM blockchain uses the Proof of Importance consensus mechanism
- XEM is the only CryptoCurrency that CoinCheck wasn’t keep safely
These facts about the CoinCheck have been known by the anonymous hackers. This is surprisingly that they have known these facts about t he Company apart from the knowledge about CryptoCurrency.