Coincheck starts compensating hack-affected customers

March 13, 2018

Tokyo- Major Japanese cryptocurrency exchange Coincheck Inc. said Monday that it started compensating the same day some 260,000 customers who were affected by a massive hack of the exchange in late January.

A total of some 46 billion yen will be paid in yen in compensation. The payments are expected to be completed within Monday.

The Tokyo-based exchange operator also resumed customer withdrawals and sales of six cryptocurrencies, including Bitcoin, that had been suspended since the hacking, after the security of the company's system for the services was confirmed.

In the incident on Jan. 26, virtual currency NEM worth 58 billion yen at the time was stolen.

Coincheck set the amount of the compensation reflecting a drop in the value of NEM just after the hacking. It will make payments to customer accounts opened at the exchange.

The company plans to resume services for withdrawals and sales of the other seven cryptocurrencies it handles after system security for the currencies is confirmed. Jiji Press