Early Friday morning in Tokyo, hackers broke into a cryptocurrency exchange called Coincheck Inc. and made off with nearly $500 million in digital tokens. It’s one of the biggest heists in history, with the exchange losing more than 500 million of the somewhat obscure NEM coins. The hack has raised questions about security of cryptocurrencies around the world.
1. How did the hackers pull it off?
Coincheck hasn’t disclosed how their system was breached beyond saying that it wasn’t an inside job.