In the wake of the hack of the Zaif crypto exchange that occurred on Friday, September 14, the NEM.io Foundation, creators of the peer-to-peer NEM blockchain platform for payments, messaging and asset making, announced that the NEM blockchain platform remains operational and secure. All NEM mobile wallets and NEM Nano wallets will also remain secure and undamaged.
Only Bitcoin, Bitcoin Cash (BCH) and MonaCoin (MONA) holdings were put in jeopardy in this hack. No NEM holdings are believed to be compromised at this time. NEM incorporates multi-signature technology, which acts as an added layer of security to protect the NEM cryptocurrency and blockchain from rogue hackers.
“The Zaif hack is very regrettable. This is a reminder for the entire cryptocurrency community that it’s critical to implement proper security measures to protect funds. This includes using multi-factor authentication and hardware wallets,” commented Alexandra Tinsman, Global Spokesperson for the NEM Foundation. “Anyone trying to withdraw cryptocurrency from Zaif right now will find it’s temporarily suspended as Zaif goes through regulatory authorities’ investigation process, but users can rest assured that no NEM or Mosaic funds were compromised ”
Users can withdraw/deposit XEM, ETH, CMS:XEM and CMS:ETH. However, Zaif has stopped withdrawals and deposits for BTC, MONA, BCH and CounterParty tokens (ZAIF, XCP, BCY, SJCX, FSCC, PEPECASH, CICC, NCX). Zaif has also contacted the Bureau of Finance and investigative authorities regarding these issues. The Zaif team is working toward rebooting its servers in parallel to increasing security check measures and other server reconstruction.
NEM will continue to share updates with the community as more information becomes available.
- ConsenSys and WWF Panda Labs Team up on Project Impactio To Drive and Fund Social Innovation - October 2, 2019
- Codebase focusing Investments on Cannabis sector and Blockchain Ventures - July 28, 2019
- Canadian City Council Enters Agreement with Coinberry to Accept Bitcoin for Tax Payments - July 19, 2019
- BitPay Processed More Than $37 Million in Bitcoin Donations Since 2017 - June 24, 2019
- Generous Donation of $120,000 in Bitcoin by Anonymous Donor Very Well Received by Bitcoin.org - May 30, 2019
- ARK Launches the ARK Deployer, an Open Source Tool to Create a Blockchain in 3 Simple Steps - May 28, 2019
- Bitbond, a Global Lending Platform, Launches STO to Support Small Businesses in Asia with Loans - May 28, 2019
- Famous Swiss Watchmaker, Franck Muller Launches the World’s First Bitcoin Watch - May 25, 2019
- Facebook’s GlobalCoin Allegedly to be introduced in 2020 - May 24, 2019
- Mobile Carrier AT&T to Accept Online Payment Options in Cryptocurrency with BitPay - May 24, 2019
- Consumers Can Now Buy Bitcoin with Cash at 2,200 Coinstar Kiosks Located Inside Grocery Stores - May 24, 2019
- Visa Token Service Acquired by Eleven New Partners for Enhanced Consumer Confidence in the E-Commerce Space - May 23, 2019
- Voyager Announces Integration of Ledger Vault’s Asset Management System into its Crypto Trading Platform - May 22, 2019
- VeganNation Welcomes Game of Thrones Actor Jerome Flynn to its Advisory Board to Unite the Vegan Community - May 21, 2019
- Huobi Honors Bitcoin Pizza Day by Selling Bitcoin 50% off Market Price & Prime 3 Launch - May 18, 2019
- Dutch Multi City Blockchain Week to be First of its Kind with Events Hosted All Over the Country - May 17, 2019
- Partnership between Travala.com and Bitcoin.com Empowers Travelers to Save on Hotel Stays and Pay Directly with Leading Cryptocurrencies - May 16, 2019
- Q2 Holdings Announces the Launch of Q2 TrustView, a new Governance and Protection Technology for Banking and Lending - May 15, 2019
- First Security Token Blockchain called Polymesh announced by Polymath at Consensus New York 2019 - May 14, 2019
- Facebook lifts Crypto Ad Ban, One Year after the Social Media Giant Banned all Ads Related to Blockchain and Cryptocurrencies - May 9, 2019