By comparison, the operator of Japan’s major stock and derivatives markets, Japan Exchange Group, acquired ¥71.8 bln ($657 mln) in the fiscal year completing in March 2018, enforcing the traditional exchange’s profits roughly on par with those of Coincheck.
Coincheck was purchased by Money Group Inc. as a wholly possessed subsidiary on April 16, 2018, when Coincheck solved to reconsider its stakeholder structure and management after $532 mln worth of NEM was pilfered from its wallets in January 2018.
According to the estimate given by Monex Group, Coincheck recorded a mammoth writedown of ¥47.2 bln ($432 mln) for the fiscal year ending in March as a refund to its clients touched by the hack, yet nevertheless this “extraordinary loss” of funds, Coincheck still finished the fiscal year in the green, netting ¥6.3 bln proceeds on sales of ¥62.6 bln. Monex Group affirms that in the next fiscal year it will “focus on enhancing governance and internal control with the aim to register [Coincheck] as a cryptocurrency exchange.”
Japan’s Financial Services Agency (FSA) in February 2018 directed all registered and unregistered domestic crypto exchanges in order to submit a risk management system official report in the beginning of the Coincheck hack, which Coincheck itself filed on February 13. All unregistered crypto exchanges of Japan are being checked to on-site FSA inspections, as strengthened scrutiny from regulatory bodies gathers international momentum.