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Tokyo-based exchange Coincheck suffered a $526 million theft of virtual currency.
Cryptocurrencies

Coincheck's $520m hack lays bare flaws in new breed of exchange

Lack of safeguards hints at broader problems in little-regulated field

KEITA SEKIGUCHI, DAISUKE SUZUKI and JIRO YOSHINO, Nikkei staff writers | Japan

TOKYO -- The theft of 58 billion yen ($526 million) in cryptocurrency from Japan's Coincheck last week demonstrated that profit-focused exchange operators have neglected critical infrastructure, including protections for investor assets.

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