Crypto exchange Japan lost 500 million cryptocurrencies

Coincheck, one of the largest Japanese currencies for cryptocurrencies, has lost 500 million NEM coins. According to the trading platform these have been sent "illegally" to another location.

The lost coins had a value of approximately 400 million dollars.

Earlier on Friday, Coincheck largely stopped the trade in crypto coins to ensure the safety and possessions of users. The action caused a dip worldwide among all the major cryptocurrencies. How the 500 million NEM coins could disappear, the stock exchange manager did not know yet.

Because of the blockade, people could no longer buy credits and the platform would no longer allow trading in NEM coins, one of the largest digital coins.

The NEM, in total value the nineth largest crypto coin, according to Coinmarketcap plummeted by 20 percent in a short time. Other cryptocurrencies from the top ten, including the bitcoin, fell 5 to 10 percent.