Some of the funds stolen from Coincheck Inc. in the US$500-million heist have been traced to a cryptocurrency exchange in Canada, according researcher BIG Blockchain Intelligence Group Inc.
Some of the stolen NEM coins are being transferred to a Vancouver-based exchange, where they are being converted to other cryptocurrencies and then possibly sent back to Japan, according to Shone Anstey, president and co-founder of BIG. Anstey declined to name the exchange, give the amount or the destination in Japan, but said the findings will be turned over to law enforcement.
“We felt it was a significant amount that warranted looking into,” Anstey said. “They are trying to move it before the door is closed, but there is a lot to move.”