Monex Group, a new owner of cryptocurrency exchange Coincheck, plans to build its own blockchain platform and conduct an initial coin offering.
Japanese financial services provider Monex Group announced 100% share acquisition of Coincheck. The deal is planned for April 16.
Coincheck, the cryptocurrency exchange that suffered the largest theft earlier this year, has accepted a takeover bid by Japanese online brokerage Monex Group Inc.
Coincheck is finally compensating all the victims of the hack as promised earlier. The exchange is also allowing customers withdraw their crypto holdings.
Japan’s financial watchdog ‘FSA’ has raided Coincheck in order to “ensure the preservation of clients’ assets.”
Coincheck has been asked to submit a report by Feb 13 stating the reasons of security loopholes and work further on restoring the issues.
Tokyo-based crypto exchange Coincheck suffered a loss of 58 billion yen as a result of a hack. 500 million NEM tokens were stolen. The exchange has temporarily stopped some services and is now working to remedy the consequences of the hack.
One of the biggest cryptocurrency exchange platforms in Japan has confirmed it experienced major hack today’s morning, losing $530 million in NEM tokens.