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Japan cryptocurrency exchange to refund stolen assets worth $400m

Coincheck, one of Japan’s major cryptocurrency exchange, has promised to refund to its customers about $423m (£282m) stolen by hackers two days ago in one of the biggest thefts of digital funds.

The hack occurred on Friday, when the company detected an “unauthorised access” of the exchange and suspended trading for all cryptocurrencies apart from bitcoin.

The attackers were able to access the company’s NEM coins, which are a lesser known but still the world’s 10th biggest cryptocurrency by market capitalisation. The losses went up to about $534m (£380m).

The company has stated that it will reimburse the affected customers to nearly 90% of their loss using cash.

Over 260,000 are reported to have been affected by the hack.

According to Coincheck, the hackers were able to steal the NEM coins because they were kept in online “hot wallets” instead of the more secure and offline “cold wallets.”

The company claims that it is aware of the digital address where the coins have been transferred and believes the assets are recoverable.

Cyber attack in Japan : Malware steals 3k confidential documents from farm ministry

In a suspected Cyber attack against the Japan, Foreign hackers might have compromised more than 3000  confidential data from the country's Ministry of Agriculture,Forestry and Fishery by infecting the ministry's system with a malware.

Investigators from the governemnt revealed that malware used in the suspected cyber-attack to be HTran, a connection bouncer program believed to have been developed by a Chinese hacker group around 2003, The report from The Daily Yomiuri says.

HTran is often used in cyber-attacks to steal information, as it can send data secretly.

"The programme was also used to steal data from the Finance Ministry, as HTran data transmissions were discovered to have taken place from October 2010 to November 2011" The report says.

Initially, the ministry did not inform the police, despite the fact that the intrusion fell under the Unauthorized Access Prohibition Law. However, now, the police have launched their own investigation to determine what information has been compromised.