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Coincheck CEO Koichiro Wada, left, and COO Yusuke Otsuka bow in apology at a news conference on Jan.26.

Sloppy management was behind the Coincheck cryptocurrency hack

The Japanese digital money exchange failed to insulate its customers' assets from networks

| Japan

TOKYO -- The massive theft of digital money at cryptocurrency exchange Coincheck was due to sloppy management, which left a huge amount of customers' money at risk at Japan's second-largest cryptocurrency exchange.

Some 58 billion yen ($533 million) in NEM cryptocurrency tokens was taken from customers' digital wallets Friday. 

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