Coinone Falls Short on Promise to Replace Hacked NFP Coins
CryptoNewsTerminal Staff12 Sep, 2024
Coinone Falls Short on Promise to Replace Hacked NFP Coins
SBS Biz reports that Coinone, a South Korean cryptocurrency exchange, has yet to fulfill its promise to replace existing NFP coins with new ones that were hacked last March. Despite numerous NFP transactions being blocked by most exchanges on the day of the hack, Coinone continued to support the transactions. This led to a sudden influx of hacked coins into Coinone, causing the price to plummet. Around 30 users claim to have suffered losses amounting to approximately 4 billion won (US$3.4 million) due to the incident. Coinone has stated that its investigation revealed no evidence of a hack on the NFP Foundation, which is why it did not block the transactions. The exchange also said that it would negotiate to make the exchange possible. However, the coin exchange has been delayed indefinitely, leaving affected users in limbo. ```
