Meanwhile, Reuters writes, “Takao Asayama, who is a member of the Singapore-based NEM Foundation that is behind the cryptocurrency, told reporters in Tokyo that it is working with exchanges to block the hackers from cashing out the stolen cryptocurrency. On Tuesday of this week, the NEM Foundation spotted activity that showed the hackers trying to move the stolen money to other exchanges, seemingly to sell the stolen XEM coins. The company was recently acquired by a large Japanese venture capital firm following the major Coincheck hack, seeking to expand the company and capitalize on the ongoing cryptocurrency craze. Reuters reports that earlier this week, Japan’s financial regulator, the Financial Services Agency (FSA), “ issued a business improvement order to Coincheck and said it would investigate all cryptocurrency exchanges in Japan for security gaps following the hack.” The FSA is conducting a spot inspection on Friday, according to Reuters. Coincheck is a successful cryptocurrency exchange based in Tokyo, Japan. Since then, several countries have begun investigations and the NEM Foundation, which is behind the cryptocurrency, is taking action to foil the cybercriminals. CEO and Founder Koichiro Wada is a senior programmer background, graduated from Tokyo Institute of Technology COO and co-founder Yusuke. Transaction fee varies from 0.1 -0.15, users can get a certain transaction fee through Maker-taker system. Its headquarters are located in the city's Shibuya district, an area. Tokyo-based exchange Coincheck lost $530 million of XEM cryptocurrency last week to hackers. Coincheck is one of Japans largest virtual currency exchanges with monthly deals of 26 million. What is Coincheck Founded in 2012, the company is based in Tokyo, where it employed 71 people as of August last year.
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