Coincheck to Lost $5M in Q3

Thus, since the acquisition of Coincheck by the Monex Group, the total loss of the trading platform reached $ 7.5 million
29 October 2018   160

Coincheck, which lost more than $ 500 million due to the January hack, reported an increase in losses in the third quarter of 2018. This is reported in the financial report of the Japanese online broker Monex Group, the parent company of crypto-exchange.

The document says that the cryptoactive assets segment presented by Coincheck brought Monex Group revenue of 315 million yen (about $ 2.8 million) from July to September. This is 66% less than in the previous quarter, which resulted in Coincheck's revenue of $ 8.4 million.

According to the company, despite the fact that over the past three months, the costs in the cryptosegment have been somewhat reduced, the consequences of the hacker attack continue to be felt. Thus, for the period from July to September, the company's loss amounted to $ 5.25 million. At the same time, in the previous quarter, this figure was $ 2.3 million.

Thus, since the acquisition of Coincheck by the online broker Monex Group, the total loss of the trading platform reached $ 7.5 million.

According to the Coinmarketcap analytical service, the daily trading volume at Coincheck is $ 4.8 million. At the same time, only one trading pair is represented on the trading floor - BTC / JPY.

Representatives of the Monex Group said that Coincheck is currently working to ensure more comprehensive and effective internal controls and security measures. This is necessary to obtain a license from the financial regulator.

The report also states that the total user base of the Monex Group is 1.7 million people. The company has 1025 employees, 15% of which are involved in the cryptocurrency segment.

Earlier, the head of the Monex Group, Oka Matsumoto, expressed the opinion that cryptocurrencies can “take off” as derivatives in the 1980s.

Pure Bit to Refund Investors' Money

Another cryptocurrency scam storu may have happy ending
15 November 2018   70

The founders of the South Korean exchange Pure Bit, who were suspected of stealing investors' money, announced the return of funds.

According to the local edition of BlockchainROK, representatives of the exchange have already partially returned the money to some users and pledged to return all other funds.

On November 4, the exchange team launched the ICO with the goal of collecting about $ 30 million to create a crypto exchange. However, on November 9, Pure Bit closed the site, said goodbye to its investors and removed everyone from the group in the KakaoTalk messenger. Also, the founders of the exchange withdrew funds from the account that was used for ICO.

According to CCN, one of the issues traced the Ethereum address of the exchange and asked Upbit to block the account and freeze the funds. Upbit fulfilled this request.

This is Pure Bit. First off, I would like to apologize to everyone that was affected by the ICO. Since November 5, I raked in 16,000 ETH and did not open a crypto exchange as promised. I kicked out everyone in our social media chat groups and disappeared without any message. I negatively affected investors in the project psychologically and financially. I made an unforgivable mistake that cannot be turned around, blinded by money. It has been less than a day and I have already started to suffer from guilt. Although it cannot be compared with the hardship faced by the investors, I also felt significant guilt. I sincerely apologize to all of the investors in the ICO who were affected by the operation.

CEO of Pure Bit

The founder of Pure Bit also notified that he would return ETH 16,000 to depositors without taking into account the payment of services to a third-party company that organized ICO.