Sentences with word «coincheck»

The Japanese exchange Coincheck hack dwarfs an earlier hack on Bitcoin exchange platform Mt Gox in 2014, which saw the theft of US$ 480 million worth of Bitcoin.

Among the approximate 260,000 people affected by the crypto exchange Coincheck hack were the Virtual Currency Girls, a Japanese pop band which actively promotes cryptocurrencies through its music and performances.

The malpractice of Coincheck of storing funds in a hot wallet and not implementing a multi-signature system ultimately led to the loss of user funds.

Monex Group's CEO said he plans to relaunch Japanese cryptocurrency exchange Coincheck in «two months», subject to regulatory approval, in a press conference in Tokyo today, April 6, attended by Cointelegraph.

Financial Services Agency (FSA)-- FSA began inspecting all cryptocurrency exchanges after hackers stole $ 530 million worth of digital money from Coincheck exchange in one of the biggest cyber heists on record.

Japan's Financial Services Agency is now breathing down on Coincheck after $ 530 million in NEM had been stolen from the cryptocurrency exchange.

The price slightly improved after Coincheck cryptocurrency exchange reimbursed the customers who lost their XEM in the hacker attacked in January this year.

Update: On April 6, 2018, Monex agreed to purchase 100 percent of Coincheck for around $ 34 million.

Cryptocurrencies got another jolt last week after Tokyo - based exchange Coincheck said hackers stole over $ 500 million in one of the world's biggest cyber heists.

Tokyo - based Coincheck Cryptocurrency Exchange Hacked and stolen more than $ 500 Million Worth NEM cryptocurrency by unknown hackers and it...

As such, upon the occurrence of a hacking attack or a security breach, cryptocurrency exchanges often contact the authorities and cooperate with law enforcement to investigate the attack, as Coincheck did last month.

The theft at Coincheck of the NEM currency was the second major hacking assault on a Japanese crypto exchange after the Mt. Gox debacle in 2014.

The defense team tabled the payout of 13 kinds of currencies deposited by 132 persons, the payment of 100,000 yen each» Japanese cryptocurrency exchange Coincheck announced on Friday, Jan. 26, that it is suspending all withdrawals after a Ripple payment...

Vice President of NEM Foundation Jeff McDonald, has said that they would be cooperating with Coincheck in the further investigative process but denied the possibility of any «hard fork» where administrators change the transaction history in order to restore the previous status before any sort of unauthorized access.

Some of the stolen cryptocurrency from Coincheck Inc. is likely to have been converted into other digital currencies in a possible attempt at money laundering

According to The Asahi Shimbun, this is one of the reasons given by Coincheck for their devastating hack in January.

Abandoning plans to unite to separate industry bodies, a group of Japanese cryptocurrency exchanges is planning to create a self - regulating body in the aftermath of the infamous recent Coincheck theft.

Japanese online broker Monex Group Inc said on Tuesday it is considering buying Coincheck Inc, the local cryptocurrency exchange hit by a high - profile $ 530 million theft earlier this year.

Currently, there are 16 cryptocurrency exchanges with a license to operate in Japan and another 16 are under review, including Coincheck which suffered a loss of 58 billion yen (~ USD$ 533 million) in a recent hack.

Coincheck also said it will continue its efforts to seek registration of virtual currency exchanges to the Financial Services Agency.

The post Japanese Crypto Exchanges Strengthen Self - Regulation Following Coincheck Hack appeared first on Bitcoin News.

The FSA has also ordered Coincheck to improve its cybersecurity standards.

But as the case of the $ 400 million of NEM stolen from Coincheck last week shows, laundering huge amounts of cryptocurrency is surprisingly hard.

On Tuesday, Japanese cryptocurrency platform Coincheck Inc. said it would refund its clients $ 435m after a January 26 hack of pilfered cyber assets.

The update lists February 13, 2018, as the day when Coincheck customers will be able to withdraw their yen.

The FSA has been scrutinizing exchanges» security networks and customer support systems in the wake of a massive hack on Coincheck wallets in January.

While Coincheck did have this significant loss as a result of theft, the acquisition by Monex Group will only be a good thing going forward with their involvement in the blockchain space.

In this picture taken on early January 27, 2018, Coincheck president Koichiro Wada (L) bows in apology at the end a press conference in Tokyo.

Cryptocurrency exchanges took another big hit late January 2018 as Japan - based Coincheck suffered losses of over $ 530 million.

According to local reports, Coincheck executives confirmed that about 58 billion yen (about $ 533 million) worth of NEM tokens were stolen from the platform — though the company admitted to not knowing the full extent of the breach yet.

$ 400 Million Compromised Coincheck confirmed on Friday that...

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

Monex chief operating officer Toshihiko Katsuya will take over as new president while Coincheck changes up its management in a bid to regain investors» trust, according to the report.

The FSA will decide whether Coincheck qualifies after reviewing its operations under Monex.

Monex will acquire Coincheck for an estimated $ 33.5 million and will control 100 % of the company, all 1,775,267 shares.

In the latest development in the saga, Japanese financial regulators on Monday indicated that they had plans to enforce «administrative punishment» against Coincheck following the massive hack, Reuters reported.

The exchange says that a temporary suspension of JPY operations was put in place to protect the assets of Coincheck customers.

In January, Japanese exchange Coincheck reported that hackers made off with $ 530 million in virtual cash.

Therefore, the Company has resolved on 100 % share acquisition of Coincheck which has been a pioneer among cryptocurrency exchanges.

The financial regulator of Japan has announced its plans to inspect national cryptocurrency exchanges after Coincheck lost $ 530 million in altcoins due to hack attack.

Hackers involved in the high - profile Coincheck heist earlier this year may have successfully converted half of the stolen NEM tokens into other digital...

Coincheck later announced it would compensate traders for the stolen funds at a rate of 81 U.S. cents per NEM unit.

Do you think the Monex - Coincheck deal will be good for the exchange's customers?

«The FSA told Coincheck after the cyber heist to bolster its security systems.

The publication said the deal would see Coincheck founding president Koichiro Wada and chief operating officer Yusuke Otsuka step down.

The business improvement order from the FSA gives Coincheck until February 13, 2018, to determine how the funds were stolen as well as to issue an «appropriate response to customers» and to implement «risk management» measures to prevent similar events from occurring in the future.

Since Coincheck partially resumed business activities following its recent hack, investors have flocked to withdraw millions from the exchange.