Coincheck to compensate users after $500m hack amid crypto-currency security questions
Tokyo — Coincheck said it will start compensating users who had their crypto-currency stolen starting as soon as next week, as the Japanese exchange seeks to resume more of its operations. All of the 260,000 users impacted by the theft of NEM coins in the January 26 theft will be reimbursed, according to conversion rates detailed by Coincheck after the attack, the Tokyo-based company said at a news conference on Thursday. The hackers, who gained entry into Coincheck’s systems using malware on an employee’s computer, made off with about $500m worth of digital tokens. This makes it one of the biggest heists in history, raising questions about security of crypto-currencies around the world. Since then, Japan’s financial services agency (FSA) has taken steps to crack down on exchanges. It still isn’t clear who was behind the attack, although there are signs that some of the funds are starting to show up on other exchanges. Yusuke Otsuka, Coincheck’s chief operating officer, told reporte...
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