Japan Police Arrest 2 People For Receiving Stolen Cryptocurrency

Japan police have arrested two people in Tokyo for receiving cryptocurrency that is linked to the 2018 530 million dollars Coincheck exchange hack. This is indeed good news for the crypto community.

This was first published by JIJI press and below is an extract from what they reported “The Metropolitan Police Department arrested a doctor in his 30s from the northernmost prefecture of Hokkaido and a company executive in his 30s from Osaka Prefecture, western Japan, for suspected collection of crime proceeds, a violation of the law on the punishment of organized crimes.
According to the sources, the two suspects knew that the cryptocurrency they acquired was part of the 58 billion yen’s worth of NEM stolen from the cryptocurrency exchange operator Coincheck Inc. on Jan. 26, 2018. In the incident, almost all NEM owned by Coincheck’s clients was fraudulently accessed and stolen.
The MPD suspects that the two traded other currencies such as Bitcoin for the stolen NEM in February and March 2018.”

Read the full post here.

We hope this will act as a deterrent to people that are planning to take part in future hacks. we are also praying other country security agencies can also do this kind of job.

Meanwhile, it is also advisable for members of the crypto community to beware of who they receive crypto from and mind their transactions. Although we cannot completely eradicate the bad eggs in the community, it is our duty to protect ourselves and the community in little ways that we can.