Crime involving cryptocurrencies appears to be on the rise at a time when the total number of reported crimes in Japan is falling.

The theft of 523 million NEM coins from Tokyo-based cryptocurrency exchange Coincheck Inc. on Jan. 26 has brought this issue to a head in recent weeks, with the company claiming to have lost a total of ¥58 billion in the heist.

The theft will have the knock-on effect of lowering public trust in virtual currencies, and it's worth noting that the country's Financial Services Agency (FSA) had warned Coincheck to address security concerns regarding the way it manages customer assets before the event.