Tokyo-based cryptocurrency exchange hacked, losing $530 million

Coincheck, a major cryptocurrency trading exchange in Tokyo, has been hacked into and has lost about 58 billion yen ($534 million) worth of virtual money, national broadcaster NHK reported on Friday.

South Korea plans to ban cryptocurrency trading

Coincheck posted on its website on Friday afternoon that it had suspended withdrawals of almost all cryptocurrencies.

The exchange has already reported the incident to the police and to Japan’s Financial Services Agency, NHK said.

US official warns Bitcoin could become the new Swiss bank account

In 2014, Tokyo-based Mt. Gox, which once handled 80 percent of the world’s bitcoin trades, filed for bankruptcy after losing some 850,000 bitcoins – then worth around half a billion US dollars – and $28 million in cash from its bank accounts.

The steps will include a ban on opening anonymous cryptocurrency accounts

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