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The perpetrators of a hack on cryptocurrency marketplace Coincheck are believed to have converted some of their loot into other virtual coins.   © Reuters

Coincheck hackers turned $4.6m of NEM into other cryptocurrencies

Darknet website facilitating laundering of stolen virtual currency

Nikkei staff writers | Japan

TOKYO -- More than 500 million yen ($4.6 million at current rates) of the 58 billion yen in NEM virtual currency taken from Tokyo-based Coincheck has apparently been converted into such forms as bitcoin, making it more difficult to track.

A darknet website created Wednesday or earlier offers to exchange NEM for other cryptocurrencies. Police in Tokyo have made contact with someone who has used the site and confirmed that sending virtual currency as instructed yields NEM in return, according to a source involved in the investigation.

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