Coincheck to use its own funds to repay $400 million hack
Exchange steps up to pay
The crypto exchange business is obviously a good one to be in.
Japanese exchange Coincheck said it will use its own capital to reimburse all customers who had cryptocurrency NEM stolen on Friday.
The exchange said 260,000 users lost a total of 523 million coins. They will be reimbursed at a rate of 81-cents.
The broader crypto market cheered the move with Bitcoin, Ether and Litecoin climbing on Saturday. NEM also surged 22% to $1.04.
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btw I upvoted you.