Researchers at the BIG Blockchain Intelligence Group Inc. have some $ 534 mln in NEM (XEM) stolen in the Jan . 26 Coincheck hack to a Vancouver-based crypto exchange, according to their March 1 press release.

The Japan Communist Party Central Committee's newspaper, today, March 2, that 24 mln NEM coins from the hack are currently in Japanese NEM exchange Zaif.

The Japanese newspaper reported that since Tech Bureau, the operator of Zaif, is registered with the Financial Services Agency, it is obliged to confirm a customer's identity, which can " help to to clarify the identity of the criminal . tagging system that alerts crypto hackers:

coincheck_stolen_funds_ do_not_accept_trades: owner_of_this_account_is_hacker. "

This automatic tagging system means that it can easily be used to identify hackers and forbid them from the NEM into other cryptocurrencies or fiat.

A Cointelegraph article covering the tagging system wrote that due to the " sheer size " of the stolen NEM, it is " not likely that the hackers will go through small-scale cryptocurrency exchanges to convert or launder the stolen funds […] At this stage, the only safe option for the hackers is to hold onto the stolen NEM .

However, according to BIG, the hackers were attempting to move the NEM stolen through the Vancouver-based exchange and then possibly sending them back to Japan.

6 of the 11 wallet addresses used in the hack has been moving small amount of NEM since the date of the exchange of the NEM involved in the transaction, and its alleged destination in Japan.

One of these addresses contained in a message in Japanese March 1 transfer of around 7 NEM coins:

"This purchase (19459003)

The other 5 wallet has a large circulation, ranging from a little less than 300,000 NEM to Increments of 5, 10, and 20 mln on one account from February through March 1.

Shone Anstey, president and co-founder of BIG, told Bloomberg that it was the size of the NEM transactions at the Canadian BIG's Forensic and Investigations Di Vision:

"We felt it was a significant amount that warranted looking into. They are trying to move it before the door is closed, but there is a lot to move. "

[BIG, DISCLAIMER] solutions "wrote that it will compile all data of its findings to the US and Canada