Another Lawsuit Filed Against Coincheck

Japanese law firm ITJ filed a $800 000 worth lawsuit against hacked japanese exchange
02 April 2018   928

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:

  1. at 11:58 on Jan. 26 when Coincheck “restricted the deposit” of NEM,
  2. the price at 16:37 on Jan. 26 when Coincheck temporarily suspended both crypto and fiat withdrawals,
  3. 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.

Eurex to Launch Crypto Futures

Bitcoin, Ethereum and Ripple futures will be launched by Eurex, world's biggest derivates exchanges, managed by Deutsche Borse
22 February 2019   132

The Eurex financial derivatives platform, managed by Deutsche Börse, the largest German stock exchange, is preparing to launch Bitcoin, Ethereum futures and Ripple XRP token futures. This is reported by The Block.

Eurex has been closely following the cryptocurrency market since 2017, exploring opportunities to launch cryptoactive assets futures. The company also recently held a series of meetings with various representatives of the industry. The exact timing of the launch of new products is still unknown.

Eurex is one of the world's leading derivatives exchanges. It was established in 1998 as a result of the merger of the Deutsche Terminbörse German Stock Exchange Derivatives and Swiss Options and Financial Futures.

There are a lot of various futures contracts on the exchange, which are derivative financial instruments from stocks, stock indices, bonds, volatility indices, credit and interest derivatives. Access to trading on the Eurex is provided from different points of the globe.

Additionally, Deutsche Börse is preparing the launch of a blockchain platform for securities based on Corda technology.