Coincheck Hit by Investors Lawsuit 

A group of traders filed a lawsuit against cryptocurrency exchange Coincheck
15 February 2018   156

Cryptocurrency investors filed a suit against Coincheck on Thursday, seeking to force the Tokyo-based exchange to allow them to withdraw assets worth $183,000 frozen after last month’s $530 million heist of cryptocurrency.

The group of seven investors filed a suit at the Tokyo District Court, also requesting that Coincheck pay annualized interest of 5% on the value of the cryptocurrency from notification of the claim until it resumes withdrawals.

Coincheck, which froze all withdrawals of yen and cryptocurrency after the Jan. 26 heist, restarted on Tuesday yen withdrawals, unleashing a single-day outflow of $373 million. But it said it would keep curbs on withdrawals of cryptocurrencies until it could guarantee the secure resumption of its operations.

I’m hoping Coincheck will respond quickly and let us resume withdrawals.

 

One of the plaintiffs' statement

The plaintiff, a man in his 20s who had invested 400,000 yen in digital money at Coincheck, said he would not cease trading cryptocurrencies and was not concerned over their safety.

The plaintiffs plan to launch a second lawsuit on Feb. 27 to claim for any lost value of the digital money frozen by Coincheck, as well as other damages stemming from the curbs on withdrawals, said Hiromu Mochizuki, their lawyer.

The group’s frozen assets were worth 19.5 million yen ($183,047) as at the end of Tuesday, and span 12 virtual currencies, according to a court filing. Their value has slumped 31.3%, or 8.9 million yen, between the heist and Tuesday.

UCLA Blockchain Crypto Conference to be Held in LA

The UCLA Conference will be held on February 17-18 of 2018, gathering together the most experienced and exciting thinkers
17 February 2018   226

UCLA's Blockchain Lab and Far from LA are holding the Blockchain Cryptocurrency Conference, gathering together the most experienced and exciting thinkers across SoCal, in order to foster both economic and educational progress. The conference will concern cybersecurity, cryptocurrencies, and blockchain.

The UCLA Conference will be held on February 17-18 of 2018.

Location: The University of California, Humanities Building, 415 Portola Plaza, UCLA 90095, Los Angeles

The headline speakers will include Kathleen Breitman, the co-founder of Tezos; Sandra Ro from UWIN Lab; David Moss from EOS; Jeremy Rubin, the Bitcoin core developer, and many more.

The agenda of the conference is as follows: the future of blockchain keynote, bringing humanity to the blockchain, cybersecurity, autonomous vehicles, blockchain's influence on the development of art and culture, blockchain in the music industry, government adoption of blockchain around the world, and more.