NEM (XEM) - Coincheck to reimburse investors from next week after $530m hack

[Sateetje]

TOKYO (Reuters) - Japanese cryptocurrency exchange Coincheck Inc plans to reimburse from next week investors who lost digital money in the late-January theft of $530 million, it said on Thursday in a statement.


_{Coincheck CEO Koichiro Wada (L) and Chief Operating Officer Yusuke Otsuka bow during a news conference in Tokyo, Japan, March 8, 2018. REUTERS/Issei Kato}

The exchange also said it plans to resume services for some cryptocurrencies from next week. Coincheck froze all withdrawals of yen and cryptocurrencies following the heist, and resumed yen withdrawals last month.

---- FOLLOW NEM ----
NEM Websites:
https://nem.io/
https://nemflash.io/

Facebook:
https://www.facebook.com/ourNEM/

Youtube:
https://www.youtube.com/channel/UCnsSiqyb0PuQkqT4v8Xjugw
https://www.youtube.com/channel/UC1rMoMdDtHTXXfRg_iR-QJQ

Twitter:
https://twitter.com/nemofficial
https://twitter.com/inside_nem
https://twitter.com/2017Lon

Telegram:
https://t.me/nemred
https://t.me/nemberia
https://t.me/newsonnem

Reddit:
https://www.reddit.com/r/nem/

BCT:
https://bitcointalk.org/index.php?topic=654845.0

[Sateetje]

https://asia.nikkei.com/Spotlight/Bitcoin-evolution/Coincheck-to-start-repaying-heist-victims-next-week

[Sateetje]

The most recent news update on the Coincheck heist is better than expected for the 260,000 traders who lost money in the theft. The Japanese cryptocurrency exchange has promised to reimburse its customers $260 million more than the current market value of the stolen coins.

https://www.newsbtc.com/2018/03/09/315130/

[Sateetje]

Japanese exchange Coincheck is today starting to reimburse victims who lost funds in a hack that saw around $530 million stolen from the platform in January.

In a blog post dated Mar. 12, Coincheck said it will refund users at the rate of 88.549 Japanese yen (or $0.83) per NEM token stolen - the same amount as stated in its initial compensation plan - to the accounts of customers who held the token at the close of Jan. 26, Japan time.

As reported before, Coincheck first confirmed the hack on Jan. 26, confessing that around 500 million tokens had been stolen. Based on the compensation plan, users will see a combined payout of $420 million.

Today's update follows the company's press conference last Thursday at which its CEO and COO announced compensation will start this week, in response to several class action lawsuits and a months-long probe by Japan's financial regulator, the Financial Services Agency (FSA), over the firm's financial capacity to issue the refunds.

Full story: https://www.coindesk.com/coincheck-starts-crypto-hack-refunds-and-allows-limited-trading/