I am expecting this. Naturally a business as big as this would not really admit any liability because it will do harm to its very existence. Imagine ever admitting your negligence. Your honesty cannot save your business's reputation especially when such negligence involves a huge amount of money, save for some few who ultimately believe the possibility of inside job or other excusable negligence brought about by extraneous factors or fortuitous events. Hence, the best they could do to alleviate or contain the situation is to pay the damages caused to their clients. What I suggest, however, is for them to close the business itself and rebuild another one under a different name or brand. They should have a different branding in opening a new one to avoid its association to the previous company. Sometimes it is all about marketing strategies, you know.
Now this exchange every day to send letters to their users, which indicates that they plan to repair the damage and reopen. But it does not return the trust. I'm not going to use this exchange in any case. But it is not an indicator. Nicehash was also hacked. They still have not returned the money to its users. They resumed work and managed to regain some of the customers. 
Topic: [2018-01-29] Coincheck execs don’t admit security flaws (Read 97 times)
I am expecting this. Naturally a business as big as this would not really admit any liability because it will do harm to its very existence. Imagine ever admitting your negligence. Your honesty cannot save your business's reputation especially when such negligence involves a huge amount of money, save for some few who ultimately believe the possibility of inside job or other excusable negligence brought about by extraneous factors or fortuitous events. Hence, the best they could do to alleviate or contain the situation is to pay the damages caused to their clients. What I suggest, however, is for them to close the business itself and rebuild another one under a different name or brand. They should have a different branding in opening a new one to avoid its association to the previous company. Sometimes it is all about marketing strategies, you know.
That's just ridiculously fishy. I think details of large scale hackings like these should be disclosed to the public so that it can be avoided by other exchanges in the future. I'm very curious as to how these take place, as exchanges should have nothing less than cutting edge security. If there are no security flaws, there should be no security breaches, right?
I do hope they are able to refund customers and bring the hackers to justice.
I do hope they are able to refund customers and bring the hackers to justice.
The executives of the Japanese cryptocurrency exchange Coincheck, which became the latest victim of a security breach and theft of cryptocurrencies worth $530 million, refused to admit security flaws.
Over the weekend it was revealed that CoinCheck’s hot wallet was hacked and client funds in XEM coins, native to the NEM blockchain, worth $530 million were stolen, making it the largest heist in cryptocurrency history so far. Initially it was reported that Ripples were also stolen.
At a news conference the CEO of CoinCheck and several other executives told reporters that the exchange is planning to refund its clients and resume trading, without revealing further details. In fact, it seems, at this point there are no specific plans and nobody at Coincheck knows how exactly the funds were stolen.
Source: https[Suspicious link removed]cs-don-t-admit-security-flaws
Over the weekend it was revealed that CoinCheck’s hot wallet was hacked and client funds in XEM coins, native to the NEM blockchain, worth $530 million were stolen, making it the largest heist in cryptocurrency history so far. Initially it was reported that Ripples were also stolen.
At a news conference the CEO of CoinCheck and several other executives told reporters that the exchange is planning to refund its clients and resume trading, without revealing further details. In fact, it seems, at this point there are no specific plans and nobody at Coincheck knows how exactly the funds were stolen.
Source: https[Suspicious link removed]cs-don-t-admit-security-flaws
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