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$400 million of cryptocurrency disappeared on a Japanese exchange — and no one knows what happened

500 million NEM coins vanished, according to officials at Japanese crypto-exchange CoinCheck.
  • $400 million worth of cryptocurrency has disappeared from a Japanese exchange.
  • About 500 million NEM coins vanished, according to officials at CoinCheck.

About $400 million worth of cryptocurrency has vanished and no one is sure exactly what happened.

CoinCheck, a prominent cryptocurrency exchange based in Tokyo, said 500 million NEM coins vanished after they were "illicitly" transferred off the exchange, according to a Bloomberg News report.

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