NEM survives first disaster – 6% of tokens stolen

NEMThis project made headlines recently when a busy hub of trading was compromised and about 6% of the currency was stolen. Some fair weather investors along with many of the speculators got scared off.

Yet NEM seems to be weathering the worst of it and continues to hold the line. Perhaps those with a longer view may have seen their buying opportunity. I think this is the correct interpretation, tell ya why if you read on.
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weekly blockchain security roundup

More scams, hacks and exploits this week – starting the new year out with lots of activity! First up – the biggest theft of tokens ever reported.

Japanese exchange Coincheck got hacked a couple days ago for $533 million USD worth of NEM tokens. Apparently the exchange was overwhelmed with activity and never got around to fixing their system, which was simply to conduct all trades from an online “hot” wallet. This is one of the classic fail moves memorialized by MT Gox back in the day – not keeping most money offline in cold storage, then getting hacked.
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