Coincheck to Start Compensating Hack Victims Next Week

March 9, 2018

Japanese cryptocurrency exchange Coincheck, which suffered from a hack in January, has announced that it will begin to compensate losses of its customers starting next week. As a result of the hack, criminals stole NEM tokens at the amount of about $534 million.

The exchange's CEO Koichiro Wada and COO Yusuke Otsuka have also added, that the exchange plans to start trading certain cryptocurrencies around the same time. 

The hack itself is the largest cryptocurrency hack ever. It is reported that attackers used special malware, that was installed in a computer of a Coincheck's employer. This breach has also forced the Japanese financial regulator Financial Services Agency (FCA) to conduct a thorough inspection of all cryptocurrency exchanges in the country. As a result of this inspection, several exchanges will be prescribed to cease operations. 

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