Coincheck announces the refund procedure

Initial compensation plan holds up with the amount of ¥88 per NEM token
12 March 2018   675

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.

Unibright and NEM to Join Forces

Result of the partnership should be the creation of the possibility of generating NEM-oriented code in the Unibright framework
09 August 2018   364

The platform for integrating the blockchain into the business processes Unibright and the NEM Foundation announced a strategic partnership.

Representatives of the team Unibright said that the result of the partnership should be the creation of the possibility of generating NEM-oriented code in the Unibright framework and joining Unibright to the NEMsp service partnership program.

In addition, the partnership suggests:

  • adding NEM as a target of Unibrights automatic blockchain code generation
  • adding NEM adapters to Unibright’s integration plattform to connect NEM architectures to existing IT landscapes
  • qualifying Unibright as an official NEM Service Partner by training and certification through the Global NEMsp Network.
  • working together on common customer projects, case studies and proof of concepts with industry partners and clients

The NEMsp Network is a scalable and repeatable program designed to expedite the adoption of NEM globally while creating value for our partners. Companies won’t need to have any internal technical staff to be able to build on the NEM Blockchain because a project can be completely developed and deployed by a NEMsp. Unibright puts that development on an even higher level by generating code automatically, and thus are a perfect fit to the NEMsp network. We look forward to a long and mutually beneficial relationship with Unibright.

Kristof Van de Rek

Interim President,

Unibright already cooperates with Lufthansa.