![]() ![]() The FSA has already ordered the company to submit a report by Feb. Cryptocurrency exchanges typically mange customer assets in offline computers. The FSA team also plans to examine Coincheck’s security measures, steps for preventing another asset theft from happening, according to the report.įinancial Services Minister Taro Aso told Japan-based reporters they “launched the inspection with the objective of protecting the users” as the reimbursements could reach JPY46 billion (USD416.76 million).įollowing the hack, Coincheck has been called out for its lax security measures that allowed unauthorized access to its system, especially since the company has been managing its customer accounts using computers connected to the Internet. The inspection, which was conducted under the revised Payment Services Law, was a first for the financial regulator. And so to ensure that that the company has enough funds to pay back its customers, 10 members of the Financial Services Agency paid a special visit to Coincheck’s Tokyo office on Friday morning, Jiji Press reported. The exchange has promised to pay the 260,000 affected users in Japanese yen via its CoinCheck Wallet, although Coincheck has yet to determine how to roll out the repayment. The hack went down as the biggest theft in world history, effectively dethroning the infamous Mt. If you recall, Coincheck made history recently after hackers stole around 523 million NEM tokens (XEM), worth JPY58 billion (USD525.48 million) at the time, from its hot wallet. In a bid to find out whether Coincheck is capable of refunding its customers, Japanese financial regulators conducted an on-site inspection on the beleaguered cryptocurrency exchange on Friday. ![]()
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