//Japanese Police Create Crypto Theft HQ

Japanese Police Create Crypto Theft HQ

According to Japan Today, Japanese Police will soon set up an investigation headquarters to step up their probe into last month’s massive theft of cryptocurrency from exchange operator Coincheck Inc.

The Metropolitan Police Department’s cybercrime division will assign some 100 investigators to the task on Monday, they said. The investigators will mainly study data related to unauthorised access to Coincheck’s servers.

On Jan 26, Coincheck lost NEM coins worth about 58 billion yen ($542.59 million) at the time to hackers. Cybersecurity experts have said the stolen currency was split up and dispersed between several digital addresses. More than 500 million yen worth of the stolen NEM is believed to have been converted into bitcoin and other cryptocurrencies.

The police have confirmed that holders of the stolen NEM converted some of it to other virtual currencies through a site on the dark web, which can only be accessed through special software for anonymity, and a few Japanese nationals have offered to exchange their currencies for the NEM.

According to the metropolitan police one Japanese national exchanged some of his litecoin for the stolen NEM “out of interest,”