Coincheck announces the refund procedure

Initial compensation plan holds up with the amount of ¥88 per NEM token
12 March 2018   300

Today on March 12 Coincheck starts to pay compensations to those who lost funds in the hack of January, 26. According to the blog post the japanese exchange will keep the initial refund rate at 88.549 JPY : 1 NEM directly into the customers' accounts. It should be noted that the plan also considers the overall compensation volume of $420 mln.

Along with the reimbursement process, the exchange relaunches the withdrawal function and the trade of the following cryptocurrencies: ETH, ETC. XRP. LTC, BCH and BTC. As for the other assets, it will a longer time to resume the respective services. The update comes after the press conference where it was announced that the compensation would start this week.

Simultaneously, Nikkei Asia Review acquired new details of the events that were precursor to the hack. These details shed light to the origins of the heist. According to the article, the attackers sent emails with a malware to Coincheck's employee in early January. After the sender's address was clicked, the computer was infected with a virus that allowed an outside operation. With this ability, hackers collected private keys to large amounts of NEM.

Japanese regulator FSA requested Coincheck to submit a written plan on system and its security improvements by March, 22.

mijin and Tech Bureau launch PoC

Blockchain Toreca proof-of-concept will be released on June 18 as a joint effort of Tech Bureau and Aeria's mijin platform
14 June 2018   168

Blockchain Toreca Proof-of-Concept, a service adopting a method of registering, issuing and distributing the trading cards is set to be released on June 18. The run period will be from June 18 till June 25. The official launch date is loosely set on July. Toreca is a blockchain card battle game. Using the blockchain technology game cards will be treated as digital assets and the record of any manipulations with it are immutably stored all the time.

mijin is a private blockchain compatible with NEM. It is developed by Tech Bureau and can be used internally or as a shared resource in a cloud. Tech Bureau is a fintech and cryptocurrency group company in Japan, US and Europe with a portfolio of blockchain-based solutions like Zaif, mijin and COMSA.

At the moment of publication, NEM market characteristics are as follows:

Average price 0.195110 USD
Market cap 1,755,990,000 USD
Volume (24H) 19,548,100 USD