Coincheck will begin to pay compensation to the victims of hacking from next week

Coincheck will begin to pay compensation to the victims of hacking from next week

Japanese cryptocurrency exchange Coincheck has announced that it will begin to pay compensation to clients who suffered losses during the January hacker attack, starting next week.

At a press conference on Thursday, CEO Coincheck Koichiro WADA and chief Executive Yusuke Otsuka said that in the coming days they will publish all the details regarding the compensation payment. They also said that in the near future, namely next week, will resume trading on some cryptocurrency.

26 Jan Coincheck has been hacked and was stolen about 500 million tokens NEM, which at that time was worth about $ 530 million. Shortly after the incident, the platform has announced that compensates for the loss at the rate of 1 token 0.81 dollar, a total of about $ 420 million.

After this attack, the financial regulator of Japan, the financial services Agency (FSA), conducted a security check Coincheck, as well as the financial condition of the exchange, to find out if she has the ability to compensate. Many customers have also filed lawsuits, with the requirement to expedite payment.

After this incident, the FSA conducted inspections on all cryptocurrency exchanges that operate without a license. As a result, seven of them are ordered to provide a plan to improve the security measures until 22 March, and two ordered to suspend operations for about a month.

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