Coincheck exchange will start paying compensation next week

Coincheck exchange will start paying compensation next week


Japanese cryptocurrency exchange Coincheck will begin to pay compensation to users affected by the January hacking, next week.

At a press conference on Thursday, Coincheck CEO Koichiro Wada and COO Yusuke Otsuka promised to provide additional information on the process of paying compensation in the coming days. In addition, according to them, trade in some pairs will be resumed also next week.

The Coincheck exchange confirmed information about the loss of about 500 million NEM tokens on January 26. At the time of the break-in, this amount was estimated at $ 530 million. Soon after, the platform announced its intention to compensate each stolen token, paying $ 0.81 for 1 XEM or about $ 420 million in total.

The injured traders, dissatisfied with the sluggishness of the exchange, filed a group claim in court demanding compensation for their losses.

Meanwhile, it became known that the Financial Services Agency of Japan continues to take measures to prevent the recurrence of such a situation in the future. The regulator demanded that 6 platforms for trade in cryptocurrencies improve measures to protect client assets and report on what they are going to undertake to fulfill this requirement, by March 22. At the same time, the FSHO and Bit Station exchanges were temporarily prohibited from serving customers.

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