In Japan, around 30 people have been formally accused of trading nearly $ 100 million worth of digital assets despite knowing they were stolen three years ago.
According to a report by Japan’s Mainichi on Friday, Japanese authorities claimed that people exchanged NEM’s XEM cryptocurrency for other cryptocurrencies via an illegal exchange on a darknet marketplace.
The stolen cryptocurrency is part of the XEM and other $ 560 million worth of cryptocurrencies that were pulled from the Tokyo-based Coincheck exchange in a massive hack in January 2018.
The 30 people reportedly traded more than 10 billion yen ($ 96 million) based on the exchange rate at the time of the theft, when XEM hit its all-time high of $ 1.6. According to CoinMarketCap, today’s prices are significantly lower at around $ 0.21.
Some of the suspects involved in the arrest allegedly traded their illegally traded digital currencies for fiat currencies on various legal exchanges in Japan and overseas and made big profits.
The identity of those who hacked Coincheck is still unknown.
According to Mainichi’s report, the Tokyo Metropolitan Police Department will soon complete its investigation for those who exchanged the stolen tokens as the statute of limitations approaches.
Two people whose trading volume significantly exceeded others were arrested in March 2020, while the other suspects were charged at a later date. The 30 are based in Japan and were referred to the prosecutor after the charges.