Coincheck to start paying compensation next week
Japanese cryptocurrency exchange Coincheck to begin paying compensation to users affected by January hack next week.
At a press conference on Thursday, Coincheck CEO Koichiro Wada and COO Yusuke Otsuka promised to provide more information on the copayment process in the coming days. In addition, according to them, trading in some pairs will also resume next week..
The Coincheck exchange confirmed the loss of about 500 million NEM tokens on January 26. At the time of the hack, this amount was estimated at $ 530 million. Soon after that, the platform announced its intention to compensate each stolen token by paying $ 0.81 for 1 XEM, or about $ 420 million in total..
Affected traders, dissatisfied with the sluggishness of the exchange, filed a class action lawsuit demanding compensation for their losses.
Meanwhile, it became known that the Japanese Financial Services Agency continues to take measures to prevent a repetition of a similar situation in the future. The regulator has demanded that 6 cryptocurrency trading platforms improve measures to protect clients’ assets and report on what they are going to take to meet this requirement by March 22. At the same time, FSHO and Bit Station were temporarily banned from serving clients.
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