3min chapter

Darknet Diaries cover image

119: Hot Wallets

Darknet Diaries

CHAPTER

Coin Check - Coin Check Coin Check

Coin check was an exchange that handled different crypto currencies, bit coin, etherium and nem tokens. Someone hacked into this exchange, looked for the crypto wallets and found the nem hot wallet. They emptied the whole thing. About 500 million nem were in that wallet. And at the time, one nem was worth one dollar. So this resulted in a theft of 500 million dollars worth of crypto,. larger than any bank hist or crypto hist ever reported at the time.

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