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RE: What the Coincheck hack tells us about the current cryptocurrency market

in #cryptocurrency6 years ago (edited)

You are MISSING a huge part of this story:

The NEM foundation tracked all of the stolen coins, notified the major exchanges, and "froze" deposits from the thieves wallets. This happened almost immediately. In other words, the stolen coins have been rendered useless.

Ironically, this reduction in supply (or "float" available for trading) will benefit existing XEM holders, those of us who dealt with security conscious exchanges, not lax Coincheck, and also who have our own wallets.

XEM holders and also the NEM foundation, for its fast, principled response, may turn out to be the real winners here -- along with those who bought the dip. Just my two cents.