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Coincheck Exchange Will Refund Hacked Users And Restart Its Services Next Week

Coincheck Exchange Will Refund Hacked Users And Restart Its Services Next Week

In an announcement, published on March 8th, 2018, Coincheck, a hacked Japanese cryptocurrency exchange, stated, that it will return seized funds to clients by the end of next week.

In January of 2018, Coincheck lost $534 mln. in NEM tokens to hackers. According to a blog post from Cointelegraph Japan, Coincheck will not only pursue to restore the stolen funds but also attempt to restart its services by the same date.

A forensics firm working on the outcome of the hack stated that it had discovered part of the tokens at an exchange in Vancouver, Canada.

Moreover, the Japanese Financial Services Authority (FSA) gave orders to several cryptocurrency exchanges to discontinue trading completely, based on the results of its own inquiries of Coincheck.

Punishment notices from the FSA have been sent to seven exchanges. 15 other crypto exchanges, who are waiting for licenses to operate legally, were reviewed for security steadiness.

Coincheck, in an attempt to focus on its customers, outlined a future perspective on the security of the exchange. Statement from the CEO of Coincheck:

“In addition to strengthening in-house monitoring as countermeasures against unauthorized access from the outside as in this case, we will be carrying out security monitoring by external expert institutions concerning financial systems security and cybersecurity.“

Coincheck will disclose its customers about updates on trading and repayment.


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