In a statement, the Tokyo police said they had arrested two men for allegedly hacking cryptocurrency exchange Coincheck.

The platform was hacked and about $400 million of “NEM” tokens were stolen in January 2018, which is considered one of the largest hacking operations of cryptocurrency exchanges.

The police have been pursuing the perpetrators ever since, and they believe they have now made progress in the case.

According for mediaInvestigators focused on tracking an alleged sale made on the dark web in which a large amount of “XEM” was traded at a 15% discount.

Tokyo police believe hackers were able to exchange their XEM funds for Bitcoin

Yesterday morning, 11 March, two men were taken into custody.

Read:There is circulating news of a hacking of a cryptocurrency exchange

In a strongly worded statement, the police said:

She is in a hurry to track down intruders.

She did not provide many details about the detainees, except that they are males, one from Osaka Prefecture and the other from Hokkaido.

The Osaka resident is accused of transacting 24 million XEM coins, and may have gained access to about 200 accounts.

The two were arrested under the provisions of the Punishment of Organized Crimes and Proceeds of Crime Control Act.

The Coincheck hack of 2018 brought the platform to its knees and ultimately transformed the platform after its acquisition by the Monex Group.

Read:After the big announcement..Binance deletes everything related to “Visa” in the crypto card

The company appears to have been following the suspects since last year but has not acted until it has gathered enough evidence.

Read also:

$45 Million Worth of Bitcoin and Bitcoin Cash Stolen by SIM Hacking

$700 million worth of DeFi against the threat of hacking