NEM

Recently, several cryptocurrencies have been calling our attention. NEM has been lately in the news because of the Coincheck exchange hack. 523 NEM were stolen from the hot wallets of the company and several investors lost their coins. But do you know what NEM is and how it works? This is the guide that you need in order to understand this cryptocurrency.

Coincheck, the cryptocurrency exchange hacked on January the 26th announced that it will refund the investors that lost their NEM. The company has been hacked and lost 523 million NEM coins, worth around $500 million dollars. On January the 27th, the company has released a statement explaining how it will refund investors. 

It seems that the advice to store cryptocurrencies in cold storage wallets was not enough. Coincheck, one of the largest cryptocurrency exchanges in the country got hacked. The massive hack resulted in a loss of 523 million NEM coins something around $500 million dollars. In order to explain the situation, Coincheck gave a press conference where more information was given.