Japanese Cryptocurrency Exchange has experienced a biggest crypto hack ever. Hacker stole almost 90% of NEM coin from its exchange named. It is the biggest hack ever. The good news is that Japanese based crypto exchange has said they will repay the lost coin.

Coincheck said in a statement it would repay 260,000 owners of NEM coin

Japanese Financial Service Authority sent a further warning to almost 30 Cryptocurrency exchange to increase their safety and security. There could be a further attack on the exchange. FSA is considering to punish the Japanese exchange according to the country's existing rules and regulations.

It seems that Japanese cryptocurrency exchange is a prime target. We know that Mt. Gox lost its 850,000 bitcoin due to massive cyber attacks. Mr. Gox was the largest cryptocurrency exchange at that time. After hack, Mt. Gox file for bankruptcy.

As a investor, What can we do? we have to believe the exchange. Unfortunately, What we are witnessing is not good at all. Exchanges should increase the level of security or as a investor we should look for alternative way for trading. Decentralized exchange can be a best alternative to these centralized cryptocurrency exchange.

What do you think about decentralized exchange? Would you like to move to decentralized exchange? please leave a comment below

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