Coincheck is blasted with $2 mln lawsuit

132 Coincheck clients submitted a class action lawsuit
01 March 2018   695

Yesterday, on February 28 132 customers of Coincheck exchange filed a new class action suit of a restitution following the previous one filed on February 27 at Tokyo District Court. The upset clients ask for a mix of 13 types of cryptocurrencies and a small amount of Japanese yen.

At the very least we would like to sell the virtual currency and withdraw it in Japanese yen, but even that will not make it even, we complain because of our distrust of Coincheck.


A 20-year old plaintiff

As the notorious platform seeks for possible resolutions of a crisis, and recently it was reported that a tie-up might be an acceptable option. Although a refund plan allegedly submitted to FSA, according to a resource, the Japanese regulator cannot say with a certainty what form will the restitution plans take. A local news media Jiji Press acquired from an insider that Coincheck is in talks with some investors to gain funds for a satisfactory rate of a refund process.

Coincheck spokesperson have abstained from giving in-depth details on the state of things with a plain commentary:

We have not responded to the presence or absence of a trial or content.

NEM Foundation to Stop Stolen Coincheck Coins Tracking

Organization said it had provided law-enforcement agencies with information from its investigations
22 March 2018   230 Foundation, said it stops tracking the funds stolen from the Japanese exchange Coincheck. This is reported by Bitcoin. com

More than 500 million XEM were stolen from Coincheck in January this year. Soon after that, the developers of cryptocurrency provided a solution that allowed to assign the appropriate label to the stolen digital coins to track their further movements. Foundation announced that the information it gathered is sufficient to enable law enforcement agencies to move to more decisive action. The organization refused to explain why it decided to stop conducting its own investigation.

According to the information published in the Japan Times, most of the stolen XEM could already be laundered and, therefore, forever lost for investigation. The withdrawal of funds to other crypto-currencies and fiat takes place through a website in a darkweb, which, according to the information of the technical director of Japan Digital Design, Masanori Kusunoki, is still functioning.

Kasanori argues that it is becoming more difficult to find the stolen Crypto currency. Previously, the Foundation reported that the cybercriminals did not attempt to sell the stolen crypto currency.