Coincheck hacked in 'world's biggest cryptocurrency theft'

On Friday Coincheck exchange said on its website it had halted sales and withdrawals of a cryptocurrency called NEM after hackers stole a reported 58 billion yen ($660 million).

Today the exchange announced it would return about 46.3 billion yen ($523 million) to investors, but was still working on the timing and method.![ggv.jpg]
The initial theft was reportedly as one of the world's biggest ever digital cryptocurrency thefts.

The reported loss tops the 48 billion yen the Japan-based Mt Gox Bitcoin exchange lost in 2014.

Coincheck president Koichiro Wada apologised at a news conference and said the company may seek financial assistance.

"Some parts of our service were suspended today. I deeply apologise for your inconvenience because of this incident. I am very sorry," he said.

Chief operating officer Yusuke Otsuka said stolen funds were kept in a "hot wallet" — one connected to the internet instead of being secured offline, according to Forbes.

Asked why, company President Koichiro Wada cited technical difficulties and a shortage of staff capable of dealing with them.