At least some of the 523 million Coincheck coins stolen from the Japanese coin exchange NEM coins are laundered using one of the trading platforms in Canada. This is reported by the research company BIG Blockchain Intelligence Group Inc.
According to the report, the unknowns transfer the stolen NEM coins to crypto-exchange in Vancouver, where they convert them into other cryptocurrencies, and then, possibly, they are sent back to Japan. Director and co-founder of BIG Lance Morginn added that the company does not intend to disclose the name of the site, the size of transactions or the address of recipients in Japan, but will provide this information to law enforcement agencies of Canada and the United States.
“We came to the conclusion that these are quite large sums to study them. The unknown try to move them before the door closes, but the volumes are impressive, ” Morginn said.
The report also notes that the proprietary search engine BIG – RegTech is used to track stolen coins. According to company representatives, it allows law enforcement agencies, state institutions, and forensic experts to track cryptocurrency transactions.
Earlier it also became known that ethical hackers actively help law enforcement agencies to track more than $530 million in NEM cryptocurrency, stolen from the Japanese exchange Coincheck at the end of January. In particular, one of the community members identified wallets of intruders.
Recall, soon after one of the largest in the history of cryptocurrency hacking, Japanese regulators checked the financial condition and security system of Coincheck. On February 15, the exchange submitted a report to the Japan Financial Services Agency, containing a plan of action that the company is taking to improve its business processes.