Coincheck is ready for compensation for users and restart
The Japanese currency exchange Coincheck, which was recently hacked, will begin to compensate customers for the lost middle. The company announced that they will resume their activities and that its users will receive part of the funds.
Coincheck will return funds to investors
As you know, the Japan Service Agency (FSA) sent "notification of penalties" to some currency exchange offices in the country. An important senior official at the FSA told reporters that Coincheck was going to return to work in the coming days.
Now the service is ready to give to its customers about 80% lost during the hacking. The attack, which occurred on 26 January, led to a loss of about 58 million yen in the NEM crypto currency. From theft more than 260 000 customers were affected. When the attack occurred, the company had to suspend almost all of its services.
The statement on the official Coincheck website reads:
"We bring our sincere apologies to customers, other exchanges and all others affected by the illegal theft of NEM from our platform. We promise to take action on all items transferred by the Agency for Financial Services, as we are working to resume trading operations. "
The attack, to which the Coincheck exchange was exposed, raised fears among the Japanese authorities and on other exchanges. Indeed, sixteen crypto-currency services decided to create a self-regulatory body that will start functioning in April.
The purpose of this is to create a better foundation for crypto currency trading operations and protect investors from possible problems.
At the same time, FSA began to launch inspections in most of the existing services. Coincheck will now work to meet all regulatory requirements (KYC and AML policies), and will provide funds to affected users.
Author: Olga Novikova, Analyst Freedman Club Crypto News
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