Coincheck Board Accepted Monex Group’s Sale Offer

April 6, 2018

Japan’s crypto exchange Coincheck that fell victim to the largest ever hack is to change senior management. The platform’s head has adopted proposal of the online broker Monex Group, as Japanese media report.

According to Nikkei Asian Review, soon after the deal the management of the exchange will be replaced with the primary goal for the new one to become recovering confidence of investors that was undermined at the end of January. The deal value makes up to some billions of Japanese yen (dozens of millions of dollars). At the moment the deal is at the final stage, the exchange can be officially declared sold on Friday, April 6.

New director to Coincheck is supposed to be Toshihiko Katsuya, chief operating officer at Monex.

Note that Coincheck hacking has triggered a number of inspections among all Japan’s cryptocurrency exchanges. The land of the rising sun is the only country with authorities officially regulating all crypto exchanges and issuing licenses for their activity.

Management change will do good for Coincheck as it brings extra funds necessary for repaying compensations to all suffered after the hack.

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