Koichiro Wada

Directed operational responses at a major cryptocurrency exchange following a large-scale theft of XEM, decisions that had immediate and measurable effects on token liquidity and market confidence. Actions included arranging customer compensation, communicating with regulators and coordinating with law enforcement and the affected blockchain project's representatives. Implemented emergency policies regarding withdrawals, listings and cold-storage practices that changed how XEM was handled by one of Japan's largest exchanges. Those policy shifts led to temporary reductions in available XEM liquidity, influenced price formation, and set precedents for how custodial platforms responded to large thefts of altcoins. Public statements and remediation timelines determined the pace at which capital returned to XEM markets and affected counterparties' willingness to process XEM trading pairs. The episode highlighted custody vulnerabilities and influenced subsequent exchange due diligence and risk management practices for XEM custody. Decisions around disclosure, user reimbursement and technical collaboration with the NEM project shaped regulatory scrutiny and exchange-level reforms in Japan, with long-lasting effects on exchange listings, insurance considerations and institutional counterparties' treatment of XEM.