Coincheck re-opens the possibility of withdrawal of deposits in yen

Coincheck re-opens the possibility of withdrawal of deposits in yen

Japanese cryptocurrency exchange Coincheck has announced that it plans to allow users to start withdrawing local currency from their accounts next Tuesday.

In a statement on this occasion said that:

Currently, all of our clients ‘ funds in yen are safe running of a reliable financial institution. February 13, 2018, we plan to re-open the opportunity to withdraw cash in yen for all of our customers.

Recall that the withdrawal of deposits in the national currency became impossible immediately after the closing of the exchange after the break.

January 26, Coincheck has suspended its work, and some time later, at a specially convened press conference announced that as a result of a hacker attack was stolen 500 million tokens NEM (at a cost of about 533 million dollars).

Some time after the attack, representatives of the exchange said they do not plan to declare the company bankrupt, but on the contrary, expect to pay compensation to all affected users. This announcement was followed by a check of the exchange by the Japanese regulator (FSA), to find out how realistic such statements.

In its statement, the FSA confirmed the financial ability of the company to pay compensation, and again listed all the weaknesses in the security system of the exchange by summarizing that:

Incompetent systemic risk management has become the norm in Coincheck.

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