Monex could buy the Coincheck hacked cryptocurrency exchange
The online brokerage company, Monex Group could execute the purchase of Coincheck, Japanese exchange house that suffered the hacking of more than 530 million dollars in cryptocurrencies this year. The agreement could be closed for several billion yen and would place the company at the head of the Japanese exchange house.
The company published a statement confirming the possibility announced by local media, although underlining that they have not "made a decision".
As part of our efforts, we created the Monex Cryptocurrency Lab in January of this year, and we have also been considering the business of safe and socially responsible cryptocurrencies. It is true that we have been considering the acquisition of the cryptocurrency signature mentioned in today's report, but we have not yet made a decision.
Press release on media coverage, Monex
The clarification arose in response to a Nikkei publication, which states that if the sale is made, the broker aims to install a new team responsible for the project, as well as update the operation of the platform under its supervision. The agreement could be announced this week, according to the sources cited.
The entry on the scene of Monex would be significant, since the company is working since 2017, being one of the operators of the stock market and mixed funds for larger individuals in the country.
Recall that after the event, the Japanese authorities increased their supervision of the activities of the cryptocurrency exchange houses in the country, urging them to raise the levels of security and risk management of their platforms. The purchase of Monex could translate into a major injection of capital to finalize these updates.
According to Reuters, Monex had around 1.74 million accounts, with about 4.3 trillion yen in assets of the clients for the month of December 2017. In addition, the company has already indicated that it is working to enter strongly into the exchange of cryptocurrencies, also glimpsing the applications of blockchain technology to your business, as expressed in the press release.
"We have been studying the virtual currency exchange industry that is taking place," they said. So it is likely that the purchase and transition of Coincheck at the hands of Monex will be fulfilled, and this would be one more step in the company's expansion in the cryptographic world. As an incentive, the shares of the company rose more than 20% in the Tokyo Stock Exchange, according to Nikkei, so the shareholders of Monex seem to welcome the completion of the operation and the immersion of the company in the ecosystem. .
Coincheck is still under the scrutiny of the authorities, so if it takes place, the operation should mean a significant reputation laundering, with the implementation of better security controls and the achievement of the pertinent operational permits that institutions such as the the Financial Services (FSA) of the country have demanded.