Tokyo’s Metropolitan Police Department is anticipating the recovery of stolen funds from 2018’s Coincheck exchange hack.
To that end, law enforcement obtained a protective court order in March, which allows for the immediate confiscation of a suspect’s funds upon a guilty verdict, according to a new report from The Japan Times.
Over half a million dollars in NEM was stolen in the initial attack. Though the hacker has not been apprehended and the investigation is still ongoing, the Japan Times reported that a 30-year-old doctor is suspected to be holding some funds stolen in the attack.
An individual named Takayoshi Doi allegedly obtained Coincheck’s NEM token with the knowledge it had been stolen. If found guilty following an indictment, the court order allows for his NEM to be confiscated.
This may be the first time a preemptive order has been issued in a case related to cryptocurrency in the country, according to the Japan Times.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.