Topic: [2018-02-27] Coincheck Exchange Considers Capital Tie-Up to Regain Public Trust (Read 109 times)

Japanese cryptocurrency exchange Coincheck is reportedly considering a capital tie-up in order to regain the trust of crypto investors, following a recent hack where 58 billion yen worth of cryptocurrency was lost. As multiple victim groups are preparing to sue the exchange, the Tokyo police is also stepping up its investigations.

Possible Capital Tie-Up

The Tokyo-based cryptocurrency exchange Coincheck is reportedly “considering a capital tie-up to strengthen its financial base and regain trust following a massive cryptocurrency theft from the exchange in a hacking incident about a month ago,” Jiji Press reported, citing an informed source. The exchange lost 58 billion yen worth of the cryptocurrency NEM (~USD$544 million) on January 26.

The source told the publication:

"There have emerged several possible partners, including an investment fund."

An official in the crypto industry commented, “Coincheck’s customer base of over one million is fascinating.” However, there are concerns that the exchange could lose its customers going forward as it still struggles to compensate victims. “Investing in the company could involve great risks,” an official at a financial institution elaborated.

Jiji Press reported on Monday that “Coincheck expressed its eagerness to continue its business,” adding that “the company will strengthen its computer security system and information disclosure policy.”

Source: https://news.bitcoin.com/hacked-japanese-exchange-capital-tie-up-to/