Coincheck Reports to Regulators over Cryptocurrency Heist

The report included Coincheck’s investigation into the heist and details of steps to bolster its risk management system
14 February 2018   145

Japanese cryptocurrency exchange Coincheck under pressure to better safeguard investors after the daring theft of $530 million (£381 million) of digital money last month, said it had on Tuesday filed a report with regulators on the hacking.

The Financial Services Agency ordered Coincheck to raise its standards after the late-January hack, directing it to submit a report on the security of its systems and measures it would take to prevent a repeat of the theft, one of biggest-ever of digital money.

The report included Coincheck’s investigation into the heist and details of steps to bolster its risk management system, Chief Operating Officer Yusuke Otsuka told a news conference.

The submission of the report came as the exchange, which froze all withdrawals of yen and cryptocurrencies following the heist, lifted curbs on yen-withdrawals after completing checks on its system’s security.

Customers withdrew 40.1 billion yen (£268.2 million) on Tuesday and the exchange would be able to meet future withdrawal requests, Otsuka said. He declined to comment on the total amount of customers’ yen still stored at the exchange.

Coincheck, which last month promised to repay about 46.3 billion yen of the cryptocurrency it lost in the theft, declined to specify when it would make the repayments.

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   174

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.