Coincheck to Pay $400M to Affected Customers

On Friday, 26th of January, $400 000 000 worth XEM was stolen from the exchange
29 January 2018   421

Representatives of the Japanese cryptocurrency exchange Coincheck published an official statement, which reports on the company's readiness to reimburse the losses of users at its own expense.

According to an official statement, Tokyo exchange will pay $400M worth refund to 260k affected users , "at the rate of 88,549 yens ($ 0.81) for each coin."

On Friday, January 26, one of the largest crypto-exchange in Japan Coincheck suspended operations with the digital currency NEM, and then with the other altcoins. Payments with bank cards and Pay Easy were also suspended. Soon on the same day, representatives of Coincheck confirmed information about the theft of 58 billion yen ($ 533 million) in the NEM (XEM) cryptocurrency.

According to Bloomberg, Coincheck management is currently coordinating the terms and mechanism for paying compensation to users.

The timing of the reimbursement and the application process are currently under consideration. The source of the refunded money is being carried out using our own capital.
 

Coincheck Statement

After a while there was a new information about the current situation from the NEM Foundation.

As Jeff McDonald, the organization's vice president, said, the NEM Foundation "is doing everything possible to help Coincheck, and to protect the NEM community." Also, according to him, the organization has all the necessary information about stolen funds, which is recorded in the detachment.

We also have a full account for all of Coincheck’s lost XEM on the blockchain. At this time, the hacker has not moved any of the funds to any exchange, nor to any personal accounts of NEM community members.
 

Jeff McDonald

Vice President, NEM

Also it is reported in the blog that NEM.io is working on creating an "automated labeling system" that will be ready in the next 24-48 hours. This system will track the funds stolen from the Coincheck exchange and "tag" each account on which transactions with these coins were conducted. Representatives of NEM already advise the stock exchange on the issues of working with the new system.

Blockchain Shift Announces Groundbreaking Event

Inaugural Conference to Shine Spotlight on Miami as Future Crypto Hub of the Americas
25 May 2018   76

It was announced that Miami will host the first-annual Blockchain Shift conference, bringing together leaders from industry, technology, finance and the arts to celebrate the potential of distributed ledgers, crypto currencies and the democratization of finance.

The event will take place from October 11th – 12th, 2018, at Mana Wynwood (318 NW 23rd St, Miami).

Blockchain Shift has already confirmed the participation of key sponsors such as IBM, Tesla, KPMG and Bloomberg; as well as an array of A-list speakers including U.S. Congressmen, City Mayors, federal regulators, billionaire technologists and internationally-renowned celebrities.

The ground is shifting beneath our feet, as technology advancements have disrupted virtually every sector of society. Our event will celebrate these advancements, while bridging the gap between a crypto crowd and more advanced legacy industries that are beginning to understand blockchain is here to stay.
 

Dan Viola 

Attorney, entrepreneur and Co-Founder, Blockchain Shift

Although the event has just publicly announced, it has already made great strides with key attendees and partnerships.

Current partners include:

  • IBM
  • Tesla
  • Bloomberg
  • KPMG
  • tZERO
  • Park Capital
  • Wysh
  • SeriesOne
  • AVYachts
  • Americas Execution, LLC
  • Alchemist
  • BitGo
  • CoinBoost
  • Cohen & Co.
  • Harneys
  • Empire Asset Management Company
  • Joseph Gunnar & Co
  • Shutts & Bowen

A sampling of confirmed speakers include:

  • Congressman Carlos Curbelo
  • Mayor of Miami Francis Suarez
  • Alchemist Co-Founder Steve Neyaroff
  • Chris Ferris of Hyperledger
  • Emma Channing from Satis
  • financier and political consultant Anthony Scaramucci
  • Mayor of Coral Gables Raul Valdes-Fauli

Blockchain Shift will place an equal emphasis on quality of experience, with curated sponsor events, yacht excursions, unparalleled networking and a night of electronic dance music with some of the world’s best-known DJs. Furthermore, the event will provide much-needed white glove service, offering a concierge app, accepting crypto for tickets and sponsorships, delivering badges pre-registered to the hotel, curating excellent food options and preventing inconveniences such as long lines.

This event will serve as a catalyst to put Miami on the blockchain map. We believe quality content and having fun should not be mutually-exclusive, and that’s what Miami is all about. The gorgeous weather, interesting people, favorable tax rates and friendly political climate are the perfect ingredients to make our city a Crypto Hub, and Blockchain Shift aims to celebrate this bright future.
 

Alex Lopatine

Managing Partner, Park Capital and Co-Founder, Blockchain Shift

The event set-up will feature a main stage for keynote addresses, panel discussions and fireside chats; with topics ranging from Crypto Hedge Funds, Crypto Broker-Dealers, and Blockchain Solutions for Wall Street, Real Estate and Art, combined with a current look at SEC, FINRA and FinCen regulations. A second stage for ICOs to present to accredited investors and receive general marketing and legal feedback. Finally, an exhibitor space will serve as a place for engagement, networking and learning with unique lounge-style seating that will be equipped with Bloomberg terminals and a live television broadcast so that attendees can stay abreast of the markets and not miss the presentations on the main stage.

To learn more, purchase tickets, or explore our sponsorship opportunities, visit BlockchainShift.io

Contacts