Famous Coincheck Theft Was Masterminded By Russian Hackers: Report

The famous Coincheck theft, which led the exchange to lose around $530 million worth of New Economy Movement (NEM) tokens was a hot topic in the altcoin news in January 2018. A new report recently emerged, showing that the hack had been finessed by an unknown group of Russian hackers.

Even though it is widely believed that North Korean hackers stand behind the famous Coincheck theft, the Japanese newspaper Asahi Shimbun is in the latest cryptocurrency news today with a new report – showing the Russian breadcrumbs in the Coincheck crypto exchange hack.

According to the Japanese newspaper, the examination of a Coincheck employee’s personal computer revealed a malware which was associated with Russian hackers. The hack, on the other hand, was a result of the crypto exchange’s employees and the fact that they installed infected software on their computers.

The famous Coincheck theft had the hackers sending emails to the employees (full of viruses such as Mokes and Netwire) which installed the malware on their machines and caused the massive financial loss. These viruses took over the infected computers and allowed the hackers to operate them remotely, gaining access to the private keys and executing the famous Coincheck theft.

Russian hackers have been known for leaving breadcrumbs of their misdeeds in the past.
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Therefore, it is not surprising to see many best cryptocurrency news sites reporting about them doing a shoddy job of covering the tracks once again – when they hacked the crypto exchange last year.

Despite the famous Coincheck theft, the crypto exchange was recently resurrected and now operates with a cryptocurrency license, unlike last year when it was hacked into. At that time, the exchange was awaiting a license and had poor checks and balances in place to prevent the massive theft knocking it into the ground.

Moreover, the inefficiency of Coincheck to protect its customers’ funds means that the hackers had to loot a fort with no defenses. If this was the Russians, it would have been a walk in the park – the country’s hackers are known for hacking the DNC server during the 2016 elections s well as many other cases of hacks, Bitcoin scams and more. Below is a proof of one.

DCLeaks was paid for with Bitcoin. The 11 Russian intelligence agents indicted today bought Bitcoin — and mined it themselves — to pay for the infrastructure they needed to hack into the DNC and release the documents. pic.twitter.com/VyJKx8RvA4

— Nathaniel Popper (@nathanielpopper) July 13, 2018