According to a researcher BIG Blockchain Intelligence Group Inc, some of the funds stolen from Japanese cryptocurrency exchange Coincheck have been traced to an exchange in Canada

The president and co-founder of BIG, Shone Anstey, says that some of the stolen NEM coins are being transferred to a Vancouver-based exchange, where they are being converted to other cryptocurrencies and then possibly sent back to Japan.

However, Anstey declines to name the exchange involved and says that all findings will be turned over to law enforcement authorities.

Reports say that BIG used a combination of public ledger information available to anyone and proprietary knowhow to trace the stolen NEM coins. On Friday, Coincheck published 11 addresses where all the stolen coins ended up and at least four of those addresses have shown some form of activity over the last two days, based on information from a Reddit post.

Coincheck was hacked at the end of January and created a stir in Japan with regards to cryptocurrency and regulation. ICYMI, here was the news.