Group of people charged


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New year, newly reported crime.
If last year a lot of reports circulated the crypto world (online news and social medias) about huge numbers of Bitcoins being stolen from bigtime hodlers from some well-known exchanges and wallets, this month the report is all about the cryptocurrency which is NEM.

JAPANTODAY posted in their site, a report about 30 people charged for exchanging a stolen Cryptocurrency.

Title of the post is,

About 30 charged for allegedly exchanging stolen cryptocurrency

Published and posted last week, January 24th, Sunday.

Link of the original post,

According to the report, Investigative sources said that about 30 people in Tokyo, Japan have been charged for allegedly exchanging NEM cryptocurrency for other digital currencies while knowing the assets had been stolen.

They stated:
Some 58 billion yen worth of digital money NEM was stolen from its operator Coincheck Inc in January 2018. Following the massive theft, an underground exchange emerged for swapping NEM for other digital currencies on a dark website, and the suspects are found to have been involved in trading at the online exchange, as reported by the sources.

The suspects, all of whom have been arrested and referred to prosecutors, are residents of Japan, however, resources stated that the identities of those who stole the NEM remain unknown.

According to JAPANTODAY, While the Metropolitan Police Department will continue its investigation of the theft, it will soon conclude its probe into those exchanging stolen NEM as it is nearing the statute of limitations.

The trading involving the 30 people at the underground exchange is estimated to have totaled over 10 billion yen, using the exchange rate at the time of the massive theft in 2018.

Some of the suspects exchanged NEM for other digital currencies through the website and cashed out their holdings at cryptocurrency exchanges at home and abroad to make handsome profits, according to the sources.

Masaki Kitamoto, 40, and Takayoshi Doi, 31, whose trade volumes were fairly large compared with others, were arrested in March 2020. Other suspects were charged later.

These Hackers, scammers and all other crypto criminals really do not have plans to stop from stealing cryptos from crypto hodlers and earners. They will really do everything in their power to do such crimes even if it means, risking their lives and ruining their identity and credibility.