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Japanese Crypto Exchange Coincheck Hacked, Biggest Heist in History of the World

In what amounts (for now) to the biggest heist in the history of the world, Japanese cryptocurrency exchange Coincheck, which handles about 3% of the total cryptocurrency transactions, has apparently been on the receiving end of a $500 million hack to its crypto vaults. The heist, which seems to have particularly over the NEM cryptocurrency, took some $532 million worth of the cryptocurrency from the exchanges' coffers. This news comes after Coincheck halted all NEM transaction on its exchange starting this morning, without previous warning, which raised red flags on the NEM investor community and Coincheck users. Additionally, it's being reported that there was an additional $123 million worth of Ripple cryptocurrency taken, as well.

For now, Coincheck has only issued an update saying that "Depositing NEM on Coincheck is currently being restricted. Deposits made to your account will not be reflected in your balance, and we advise all users to refrain from making deposits until the restriction has been lifted", so, there's no confirmation of the heist as of now. However, Nikkei is reporting that Coincheck has reported the theft to the local Financial Services Agency and the police. If confirmed, this is easily the biggest heist in the world's history, and not coincidentally, the biggest in crypto history as well.

Japan Opens Prototype Quantum Computing System for Public, Worldwide Use

Japan's Nippon Telegraph and Telephone Company (NTT) is opening up its prototype quantum computing system for public use over the internet, giving users around the world access to one of the most elusive pieces of tech that this world has yet seem. Maybe we haven't seen it, though; observation does change the outcome, and these quantum physics really are as finicky as they come. Starting Nov. 27, Japan joins China and the U.S. in the race to develop the world's most advanced computers - and Japan has chosen the free, quantum-democratizing approach.

The NTT quantum computing solution is a state-sponsored research project, developed in conjunction with the National Institute of Informatics, Osaka university, and other partners. It has taken a different technical approach from other quantum computing developers, in that this particular computing system is exploiting the properties of light. Widely (un)known as Linear Optics Quantum Computation (LOQC), this particular approach foregoes qubits (which are extremely difficult to keep from decohering, and usually require very exotic cooling techniques to increase the qubits' stability. LOQC abandons qubits and uses photons to represent them as information carriers through linear optical elements (such as beam splitters, phase shifters, and mirrors). This allows the machine to process quantum information, using photon detectors and quantum memories to detect and store quantum information.

Microsoft Xbox One X Falls Short of Expectations in Japan - Again

Cracking Japan's console market has always been a tough - read: almost impossible - feat for Microsoft. For generations now, Microsoft has failed to achieve any kind of market penetration in that country. To put things in perspective, Xbox One's sales in japan have been so low that retailers in Japan started marketing and selling the consoles as Blu-ray and 4K Blu-ray readers, not as gaming consoles. For Microsoft, that would have been fine - a sale is a sale is a sale, and the Xbox One never was sold at a loss like previous hardware generations - but it just goes to show that the Japanese market doesn't really care much for the typical games Microsoft offers with its console. The relative abundance of JRPGs and other typical games for which the Japanese crowds usually lean towards the most are relatively absent from Microsoft's staples of exclusives, which probably justifies this cold stance towards Microsoft's console. But to be fair, japan is one of the foremost mobile gaming countries in the world, so that definitely has something to do with it as well.

According to Japanese Famitsu, the Xbox One X managed to move... 1,639 units at launch. This means that the Xbox One X was outsold by virtually all consoles - The PS4 (23,613 units), PS4 Pro (6,028 units), Nintendo Switch (84,593 units), and was even outsold by the PS Vita, 3DS, and 2DS XL. It only snagged wins against previous-generation hardware (like the PS3 and Wii U) or Microsoft's own other console - The Xbox One S. A bittersweet victory, to say the least. The fact that the Xbox One X did get sold-out in Japan is telling - but that did happen because of the low orders Japanese retailers put in for the new console. Some 4 consoles later, they know that barring a black swan, Microsoft isn't setting a foothold in Japanese gamers' living rooms.
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Jul 16th, 2024 02:32 EDT change timezone

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