New lawsuit against hacked japanese cryptocurrency exchange is on the way. Now it's almost $800 000 worth ( 82M yen).
As you may remenber, Coincheck was hacked on 26th of January and over $530M in NEM tokens were stoln. The exchange froze withdrawals of all cryptocurrencies as the result of the hack. Certain coins withdrawals and sales were resumed only in the middle of March.
There are two known lawsuits filed against Coincheck. First one involves 10 traders who sued over the freezing of crypto withdrawals, and the second lawsuit filed by the same lawyer involves 132 plaintiffs, reportedly suing for 228 mln yen (around $2 mln) in damages.
Now, new third lawsuit is filed by the Japanese law firm ITJ. It involves 15 plaintiffs. The firm states that they will “request damages” against Coincheck for the “cryptocurrencies’ price before the incident minus the price that plaintiffs actually could withdraw.”
On March 13, Coincheck started refund offering to affected customers with fixed rate around $0.83 for one NEM.
ITJ’s Coincheck damages page, states that there are three important price points in deciding the amount to be refunded:
- at 11:58 on Jan. 26 when Coincheck “restricted the deposit” of NEM,
- the price at 16:37 on Jan. 26 when Coincheck temporarily suspended both crypto and fiat withdrawals,
- and the price when the hack was initially covered by the media.
These price points are for plaintiffs who were at one point unable to withdraw their holdings to figure out how to claim their losses based on the prices at the time they were actually able to withdraw.