Sentences with phrase «coincheck which»

Among the 11 is Coincheck which suffered a massive hack in January and lost 58 billion yen worth of the cryptocurrency nem.

Not exact matches

Japan's Financial Services Agency told Coincheck to get its systems in order after the hack — the exchange had been storing customer assets in an internet - connected «hot wallet,» which is something of a security no - no.

That's according to Japanese newspaper Asahi Shimbun, which reports that Coincheck said that some 500 million units of a cryptocurrency known as NEM, worth about 58 billion yen, had been taken from customers» wallets.

Japan's Financial Services Agency (FSA), which had instructed Coincheck to beef up security measures prior to the theft, is still reviewing Coincheck's application for licensure, as it had been at the time of the heist.

On April 5, it was reported that the Japanese cryptocurrency exchange Coincheck, which was robbed of some 523 million NEM tokens on January 26, decided to accept an offer from online brokerage Monex Group to acquire the beleaguered firm.

The regulator said that the persistence of the vulnerabilities which it had diagnosed were among its reasons for not granting Coincheck a license.

According to McDonald, the vulnerability that made the theft possible had to do with Coincheck's decision to keep the NEM tokens in a hot wallet, which is effectively a storage mechanism connected to the internet.

Monex, which is also a Japanese firm, was motivated to make the offer in part because it wanted to gain access to Coincheck's customer base.

However, Coincheck said it would reimburse account holders at a rate of 81 U.S. cents per token, which reflects the average price between Jan. 26 and 27.

Coincheck personnel also told attendees that the only assets stolen were NEM tokens; that it intends to work on refunding stolen customer funds, at least in part, though it is not yet sure how it might do this; and that the exchange had not been using NEM's multi-signature smart contract, which could have enhanced security.

Though some media outlets have reported the theft as the greatest in the history of cryptocurrency, the value at press time of the 650,000 bitcoin (a conservative estimate) that were stolen from the MtGox exchange, which was headquartered in the same Tokyo neighborhood as Coincheck, totaled over $ 7 billion.

Moreover, Coincheck states that yen withdrawal applications will be handled in the order in which they have been submitted, a process which could delay some customers from withdrawing funds even longer.

Japanese online brokerage Monex Group has confirmed a deal is in place to acquire cryptocurrency exchange Coincheck, which suffered a major breach early this year.

Few weeks after the massive $ 500 Million Coincheck hack, the company has come forth with a novel excuse which caused the issue: Lack of experienced engineers.

Around the same time, the FSA additionally issued business change requests to five different trades, including Coincheck, which had just been slapped with a business change -LSB-...]

Several Japanese cryptocurrency exchanges have joined forces to form a self - regulatory body in an effort to better protect investors following last month's attack on Coincheck, which resulted in the loss of hundreds of millions of dollars.

The attack, which targeted Tokyo - based cryptocurrency exchange Coincheck, resulted in the largest monetary loss in history.

Tokyo - based Coincheck, which was the target of the biggest hack in January that resulted in the loss of $ 530 million worth of NEM, had handled all three digital currencies before the exchange was hacked.

The country, which has more than 3.5 million digital currency investors, is considered a crypto - friendly location; however, the issue with Coincheck has highlighted to authorities that more needs to be done to maintain a secure industry in Japan.

Two Japanese cryptocurrency exchanges are reportedly quitting their operations amid tighter oversight from authorities following the Coincheck hack, which saw the theft of $ 530 million in January.

South Korea's Yonhap News Agency cited parliamentary sources in reporting Monday on the North's suspected involvement in the Jan. 26 heist, in which hackers made off with 58 billion yen ($ 526 million) worth of the cryptocurrency NEM from Japan's Coincheck.

According to media sources present at the conference, Coincheck admitted it had not integrated multi-signature technology or cold storage security, which would have held the tokens offline in a secure location.

This week, Monex Group completed its acquisition of cryptocurrency exchange Coincheck, which was the target of a $ 534 million hack in January.

Coincheck, which has apologized for the ordeal, says it is still investigating the matter further.

Another well - known hack, which reportedly outweighs the Mt. Gox incident, occurred earlier this year when hackers targeted Tokyo - based exchange Coincheck.

The most recent coincheck hacking was worth 500 million, a record, and it is this which has caused Japan to act.

Users were unable to withdraw funds which is why they suffered major losses, stated the firm which filed a lawsuit against Coincheck.

The Coincheck heist emphasized the risks with which policymakers are confronted with when regulating cryptocurrency trading.

Monex Group Inc, a Japan - based online broker announced on Tuesday that it was considering buying Coincheck Inc, a local cryptocurrency exchange which lost $ 530 million in a high — profile theft earlier this year.

The government, which has questioned Coincheck executives, has not ruled out physically registering the company's offices should there be any doubt about the reliability of the security system.

Japanese cryptocurrency exchange Coincheck, which was the victim of a major heist in early 2018, is to accept a takeover offer from online brokerage Monex Group, a news report indicates.

Hung out to Dry As reported by Japan Today, hackers involved in the large - scale Coincheck heist may have utilized the anonymous «dark web» — which has proved troublesome to investigators trying to track the stolen cryptocurrency then valued at roughly $ 547 million.

Japan's Financial Services Agency told Coincheck to get its systems in order after the hack — the exchange had been storing customer assets in an internet - connected «hot wallet,» which is something of a security no - no.

Japanese online brokerage Monex Group has confirmed a deal is in place to acquire cryptocurrency exchange Coincheck, which suffered a major breach early this year.

Unfortunately, Coincheck became a victim of a successful cyberattack in January which left the cryptocurrency exchange $ 530 million out of pocket.

Coincheck, which started operating only about three years ago, has said it will repay its affected customers about ¥ 46 billion.

Monex has confirmed the takeover of Coincheck, a cryptocurrency exchange which has struggled after the theft of $ 530 million in cryptocurrency.

Since the Coincheck heist, in which hackers did away with $ 500 million in cryptocurrencies, the FSA has been actively assessing crypto exchanges operating in Japan.

Coincheck is currently not registered with Japan's financial services authority which is the main hub for controlling all the exchanges across the country.

That's in direct response to Japan's Financial Services Agency, which requested that the exchange make changes in the wake of the January hack — which saw Coincheck reimburse affected users.

The news, originally reported by Nikkei but which Monex has not yet officially confirmed, comes as Coincheck continues to face stringent inspections from Japan's regulator since it lost $ 530 million to hackers in January.

However, Coincheck said it would reimburse account holders at a rate of 81 U.S. cents per token, which reflects the average price between Jan. 26 and 27.

The half a billion dollar theft in Japan on the Coincheck Exchange could be a cautionary tale for Taiwan, which has been looking to possibly fill the cryptocurrency void in Asia following the crackdowns in China and South Korea.

«We would like to offer our sincerest apologies to our customers, other exchanges, and everyone else affected by the illicit transfer of NEM which occurred on our platform,» Coincheck says.

Monex could potentially offer up to several billion yen for a majority stake in Coincheck, a Japanese cryptocurrency exchange which deals primarily in Bitcoin (BTC).

Registrations on the exchange are currently closed as Coincheck has found it difficult to recover from a cyberattack which left the service $ 530 million out of pocket.

The Financial Services Agency (FSA) on Monday ordered improvements to operations at Tokyo - based Coincheck, which on Friday suspended trading in all cryptocurrencies except bitcoin after hackers stole 58 billion yen ($ 534 million) of NEM coins, among the most popular digital currencies in the world.

In an order to Coincheck, which lost $ 530 million to hackers last week, the Financial Services Agency (FSA) of Japan has demanded a full explanation of what went wrong, along with a raft of upgrades for «prevention of similar events in the future.»

However, this did not fully stop the less - than - spectacular news which surrounded Coincheck.

That's according to Japanese newspaper Asahi Shimbun, which reports that Coincheck said that some 500 million units of a cryptocurrency known as NEM, worth about 58 billion yen, had been taken from customers» wallets.