Coincheck is a Japanese cryptocurrency exchange that offers trading in popular cryptocurrency pairs such as Bitcoin, Ethereum and more. It also features a professional grade charting platform and block trades for better rates. Coincheck's security features include storage of customer assets in cold wallets, working with information security firms and two-factor authentication for users. However, on Jan. 26, 2018, $530 million worth of NEM (XEM) tokens were stolen in a hack of the exchange due to Coincheck being short staffed and suffering technical difficulties, resulting in poor security practices. The stolen XEM tokens were stored in a hot wallet, which is connected to the internet, instead of an offline cold wallet, which is standard industry practice. All affected Coincheck users were subsequently compensated.