The NEM.io Foundation, creators of the peer-to-peer NEM blockchain platform for payments, messaging, asset making and more, today announced that the NEM blockchain platform itself remains secure, and all NEM mobile wallets and NEM Nano wallets also remain secure and intact, in the wake of the hack that occurred on Friday, September 14th of Zaif, the Japan-based crypto exchange.
While NEM is traded on Zaif, only Bitcoin, Bitcoin Cash (BCH) and MonaCoin (MONA) were compromised in this hack. No NEM holdings are believed to be affected at this time. NEM incorporates multi-signature technology as an added layer of security to protect the NEM cryptocurrency and blockchain from rogue hackers.
“The Zaif hack is most unfortunate. This is a reminder for the entire cryptocurrency community that it’s critical to practice proper security measures to protect funds. This includes using multi-factor authentication and hardware wallets. Anyone trying to withdraw cryptocurrency from Zaif right now will find it’s temporarily suspended as Zaif goes through regulatory authorities’ investigation process, but users can rest assured that no NEM or Mosaic funds were compromised ”
Users can withdraw/deposit XEM, ETH, XEM, and ETH. However, Zaif has stopped withdrawals and deposits for BTC, MONA, BCH and CounterParty tokens (ZAIF, XCP, BCY, SJCX, FSCC, PEPECASH, CICC, NCX). Zaif has also contacted the Bureau of Finance and investigative authorities regarding these issues. The Zaif team is working toward rebooting its servers in parallel to increasing security check measures and other server reconstruction.
Among the cryptocurrencies stolen on Zaif, which owned by Tech Bureau Inc., equivalent to about 7 billion yen was lost, the cryptocurrency equivalent to customer’s assets under custody is approximately 4.5 billion (4,587,099,227 yen), and the breakdown is:
· BTC 2,723.4 (converted to yen: 1,940,662,281)
· MONA 5,911,859.3 (converted to yen: 636,707,257)
· BCH 40,360.0 (converted to yen: 2,009,729,689)