Tag Archives: Coincheck

Japan Bolsters Crypto Exchange Regulations to Prevent Another Coincheck

Japanese regulators have announced stricter regulations for cryptocurrency exchanges in an effort to prevent another heist like the one that befell Coincheck in January, according to Nikkei Asian Review. The country’s Financial Services Agency expects to begin using a new, stricter framework for registered cryptocurrency exchanges this summer, and will advise those that fail to meet its new rules to discontinue operations. Both new and existing operators will be required to meet the new standards. Continue reading Japan Bolsters Crypto Exchange Regulations to Prevent Another Coincheck

Japanese Regulators Discussed Restricting Trade Of Privacy-Focused Altcoins

Japanese regulators suggested preventing cryptocurrency exchanges from trading anonymity-oriented altcoins Dash (DASH) and Monero (XMR) this month, Forbes reports today, April 30. Relating the outcome of a working group meeting of industry “experts” and the country’s regulator the Financial Services Authority (FSA), the publication quotes one member of the group raising the idea of preventative measures regarding the altcoins, which are known for their focus on privacy and user anonymity. Continue reading Japanese Regulators Discussed Restricting Trade Of Privacy-Focused Altcoins

Japan’s 16 Licensed Cryptocurrency Exchanges Launch Self-Regulatory Body

A concentrated effort among 16 licensed Japanese cryptocurrency exchange operators to ‘restore confidence’ in the sector following the $530 million Coincheck theft in January has finally seen the launch of a self-regulatory body. Continue reading Japan’s 16 Licensed Cryptocurrency Exchanges Launch Self-Regulatory Body

Japanese Exchange Coincheck Begins JPY Refunds for NEM Hack Victims

As of today, Tokyo-based Coincheck has begun distributing reparations to users impacted by the infamous late January theft of some $530 million in NEM. With an announcement on its website today, Coincheck has begun reimbursing funds – in JPY – to the account balances of users who held NEM at the time of the theft on January 26th. The refund value will be at a fixed rate of 88.549 Japanese yen, approx. $0.83 per NEM token stolen at the time. That’s over twice the current trading value of NEM’s XEM token, at just under $0.40 at press time. Continue reading Japanese Exchange Coincheck Begins JPY Refunds for NEM Hack Victims

132 Crypto Investors Sue Hacked Exchange Coincheck

132 crypto investors have filed a lawsuit against the Japanese-based crypto exchange Coincheck, seeking 228 mln yen (around $2 mln) in damages, local news outlet Sankei reported Tuesday Feb. 27. Coincheck suffered a major hack in late January that resulted in the theft of more than 523 mln NEM, worth around $530 mln at the time. The exchange has since promised to refund all of its customers in full at a rate of about 82 cents per token. Despite the company’s refund promise, ten crypto traders had already filed lawsuits against Coincheck on Feb. 15 at the Tokyo District Court over the company freezing crypto withdrawals. Coincheck began allowing yen withdrawals on Feb. 12, which settled one of the claims against the exchange. At the time of the Feb. 15 lawsuit, the traders’ lawyer, Hiromu Mochizuki, told Reuters that a new lawsuit to claim damages for the hack may be forthcoming. This newest lawsuit with 132 claimants seeks payment in 13 types of currency, including yen, Sankei reports. Mochizuki’s Twitter bio describes him as the “Secretary General of Coincheck Damage Counterparty Lawyer,” and he often links to the Twitter page of the so-called “Coincheck Damaging Countermeasure Defense Team.”

Reference: https://cointelegraph.com/news/japan-132-crypto-investors-sue-hacked-exchange-coincheck-seek-reimbursement