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Coincheck hackers inch closer to cash-out

Most stolen NEM coins seen laundered through 'dark web'

TOKYO -- The 58 billion yen ($550 million) in virtual currency stolen from a Japanese exchange operator in January appeared to have been more or less completely laundered as of Thursday, after an effort to track it was dropped.

Analysis of online transaction records for the cryptocurrency NEM was provided by Takayuki Sugiura of L Plus, a Tokyo company involved in cybersecurity. A website set up on the "dark web" to trade the ill-gotten gains for other virtual coins was showing zero balance for NEM as of Thursday evening.

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