Jeff McDonald, vice president of the NEM Foundation, says he has traced the coins stolen from Japanese exchange Coincheck to an unidentified account, Reuters reported.
According to him, hackers behind last week’s $530 million cryptocurrency heist have started trying to sell some of the stolen “XEM” coins on six exchanges.
“They are trying to spend them on multiple exchanges. We are contacting those exchanges,” Singapore-based McDonald told Reuters.
McDonald noted, however, that the location of the account was not yet known and it’s not clear how much of the stolen coins have been spent.
Coincheck said Friday that about 500 million NEM coins worth $400 million had been stolen.
The exchange said Monday it will use its own funds to reimburse about 46.3 billion yen (around $430 million) - at a rate of 88.549 yen per NEM - to all 260,000 customers who lost their holdings.