CoinCheck parent company Monex has issued a press release, January 29, 2018, warning users about an ongoing impersonator scam that targets newer users of their platform.
Stark Warning
Back in April 2018, CoinCheck, a Cryptocurrency exchange, suffered a that led to the loss of over $530 million. The hack occurred when the perpetrators were able to get the keys for the exchange’s hot wallet and stole hundreds of millions of dollars worth of NEM tokens.
Since then, the exchange has been by the Monex Group for $33.5 million and is working on victims of the hack. As part of its acquisition by Monex, CoinCheck was able to an exchange license in Japan and has since resumed activities.
However, they now face a new challenge as some of their customers are being targeted by a group of impersonators forcing Monex to an official statement to warn them.
Details About the Scam
In Monex’s official statement, they went into some detail about the ongoing scam. According to them, the Scam targets newer customers and involves the customer receiving a call from someone claiming to be “Monex Coin Management.”
The customer is also directed to place a call to an automated trading system that is supposedly linked to Monex, the firm has, however, openly stated that they are not connected to any such trading system.
Monex wrote:
“The Monex Group and (subsidiaries) do not have any relation with the above company,”
The purpose of this scam is to gain access to users’ hot wallets and steal their funds. Unfortunately, the use of impersonation of an individual or firm in order to target crypto users isn’t uncommon. On social media sites such as Twitter, a number of scammers impersonate public figures such as in order to gain the trust of users and scam them.
This is reminiscent of the calls that have been taken place for years and whilst most of the general public has been sensitized to these forms of scams, the crypto industry is relatively new and some users, particularly the newer ones, are not as aware.
It has been barely a year since the unfortunate hack and CoinCheck is clearly trying to avoid any more situations of customer funds going missing.
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Shopping dynamics and shopping itself have dramatically changed since the first store appeared in ancient Rome. Not only can we buy and sell goods and services from the comfort of our own home, but the nature of our purchases has undergone dramatic changes.
Looking back in time when Richard Sears first introduced his catalogs back in the 1800s, unlocking opportunities to buy from home, we can, without doubt, see that his legacy lives on. It has evolved, however, and moved into the virtual space. It may seem like nothing really changed, the new, virtual world has eased its way into our lives. However, it is also clear that thanks to the newfangled idea of virtual and augmented realities, in 10 years time, today’s shopping experiences will look incredibly outdated and may become obsolete altogether. While it seems far-fetched and yet unclear how widespread VR technologies will become over time and whether or not they will be used by everyone to buy goods in the real world, the gaming industry is already on the path to creating a virtual reality ecosystem for gamers around the globe.
Gaming is an immersive and experience-driven world with a lot of action in it. This new virtual universe is creating a virtual economy with virtual goods. Look close enough and you will find that we are witnessing a clash of the real with the virtual since all virtual goods can be purchased online with very real money. Today people spend billions of dollars on virtual goods every year. Virtual goods which, no matter what shape or form they are, and what features they have, are nothing but a series of 1s and 0s that are stored on some remote server. What’s more – the virtual space is developing and generating huge revenues. The driving force of this development lies in the fading barriers of people’s offline and online presence. Virtual markets are exploding as users purchases are not limited to swords or other armor to use in gameplay but also presents, ads, cryptocurrencies and so much more. Every day hundreds of thousands of transactions take place through marketplaces like eBay and Amazon. All these purchases increase people’s overall satisfaction creating real value.
Any boom is followed by tech innovations and development. One of the leading companies in this field is . NAGA is a German FinTech company that has been listed on the Frankfurt Stock Exchange since July 10th when NAGA successfully carried out its IPO. Within just a few months NAGA’s stocks have increased in price per share by more than 400%. NAGA is developing cutting edge technologies for capital markets and gaming. They are aiming to create one unified platform to trade both financial and virtual goods. Current financial and virtual markets are still struggling with security and vulnerability issues that NAGA will overcome with the help of blockchain technologies. On the way to unifying two worlds, NAGA is creating the NAGA Wallet to bridge its two major projects – for trading andfor virtual goods exchange. To fuel the NAGA ecosystem a token will be deployed. The NGC token will be used as a currency. NGC will give any user access to virtual in-game goods via various platforms. Powered by the blockchain it will create a transparent cost structure and allow cashback through sophisticated frameworks. Decentralization deployed through the blockchain offers vast opportunities for users to take advantage of in the evolving virtual economy.
To make complicated markets simple and fun, NAGA has created a unique solution Switex, a virtual goods exchange. This will be the first legal ecosystem for virtual goods, that will help various users profit from using it. Users will be able to buy virtual goods directly from a publisher or from other users, creating primary and secondary markets of virtual goods. Switex will enter the gaming market first and then expand to other virtual products.
By offering primary and secondary market items, NAGA aims to unite the best from both eBay and Amazon.
NAGA with their unique solution Switex is aimed at legalizing all markets of virtual goods. Switex also aims to ensure the safe and correct transfer of virtual goods between users.
NAGA is advised by crypto professionals: bitcoin.com founder Roger Ver, bitcoin.com’s COO Mate Tokay, and Miko Matsumura of Pantera Capital.
NAGA’s pre-sale started just a few days ago, but they have already sold over 50% of the pre-sale’s allocated tokens. Moreover, the predictions are that the price of NGC (NAGA coin) will reach $4.5 after it is listed on the top cryptocurrency exchanges.
Hurry up and at the current pre-sale stage!
To find more about NAGA project and Switex visit .
