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Tokyo Police open probe into Coincheck cryptocurrency hack

Investigators analyzing communications data to track cyberthieves

Tokyo-based Coincheck lost some $530 million worth of cryptocurrency in an apparent hack.   © (Getty Images)

TOKYO -- The Tokyo Metropolitan Police Department has launched an investigation into the 58 billion yen ($530 million) virtual currency theft at Coincheck, after the company turned over communications logs related to the incident, investigators said Thursday.

Police are analyzing the data for evidence of a break-in to Coincheck's system, from which 58 billion yen worth of the NEM virtual currency was stolen on Jan. 26.

They are examining Coincheck's blockchain data, which records transactions in the cryptocurrency, hoping to track the flow of the stolen digital money. Investigators are working with the company's online security staff to learn more about several accounts to which the money is known to have been shifted.

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