[kictanet] World's biggest ever digital currency 'theft'

[Admin CampusCiti]

Lesson:-

That we are not safe anywhere from thieves? :-)

Seriously though one of the fundamental flaws of cryptocurrencies is that once you have been liberated from your cryptos you have no recourse. This is a design flaw that we are all hoping will be resolved. Sooner rather than later.

Ali Hussein
Hussein & Associates
+254 0713 601113 

Twitter: @AliHKassim
Skype: abu-jomo
LinkedIn: http://ke.linkedin.com/in/alihkassim
Blog: www.alyhussein.com

"Discovery consists in seeing what everyone else has seen and thinking what no one else has thought".  ~ Albert Szent-Györgyi

Sent from my iPad

> On 27 Jan 2018, at 8:53 PM, Victor Kapiyo via kictanet <kictanet at lists.kictanet.or.ke> wrote:
> 
> Dear Listers,
> 
> One of Japan's largest digital currency exchanges says it has lost some $534m (£380m) worth of virtual money in a hacking attack on its network. 
> 
> Coincheck suspended deposits and withdrawals for all crypto-currencies except Bitcoin as it assessed its losses in NEM, a lesser-known coin. If the theft is confirmed, it will be the largest involving digital currency. Another Tokyo exchange, MtGox, collapsed in 2014 after admitting that $400m had been stolen from its network.
> 
> Read more: http://www.bbc.com/news/world-asia-42845505# 
> 
> What lessons can we learn from this?
> 
> Regards,
> 
> 
> Victor Kapiyo
> Partner | Lawmark Partners LLP
> Advocate of the High Court of Kenya, Commissioner for Oaths & Notary Public
> Suite No. 8, Centro House, Westlands, Nairobi | Web: www.lawmark.co.ke 
> ====================================================
> “Your attitude, not your aptitude, will determine your altitude” Zig Ziglar
> 
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