Coincheck is blasted with $2 mln lawsuit

132 Coincheck clients submitted a class action lawsuit
01 March 2018   1972

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.

Coincheck to Receive FSA License

Coincheck exchange was hacked last January and $ 533000000 worth NEM stolen
11 January 2019   1249

The Financial Services Agency of Japan allowed the Coincheck cryptocurrency exchange to continue its work, reports Cointelegraph.

Coincheck exchange was hacked last January. NEM cryptocurrency was stolen in the amount of 58 billion yen ($ 533 million) according to the price of that time. Soon after, the Japanese authorities began to tighten the regulation of the industry, and Coincheck became the property of the online broker Monex.

In December last year, it was reported that the Japanese regulator issued a license to Coincheck, as well as plans to resume the stock exchange. Against the background of these transformations, the marketplace improved the risk management system and gradually resumed the operation of services.