Coincheck Hacked, $400 Million Stole - CoinCheck to repay users !

One of Japan’s largest cryptocurrency exchanges has revealed that it’s lost nearly $400 million

Coincheck president Koichiro Wada apologised at a news conference.

"Some parts of our service were suspended today. I deeply apologise for your inconvenience because of this incident. I am very sorry,"

Company chief operating officer Yusuke Otsuka said 523m NEMs had been sent from Coincheck's NEM address during the breach.

"It's worth 58bn yen based on the calculation at the rate when detected," he told reporters at the Tokyo Stock Exchange.

"We know where the funds were sent. We are tracing them and if we're able to continue tracking, it may be possible to recover them."

Coincheck reported the incident to the police and to Japan's Financial Services Agency and also claims it has the digital address of where the assets were sent.

Some good news for those that were invested.

 Japanese cryptocurrency exchange Coincheck Inc. said it will use its own capital to reimburse customers who lost money.

The company will repay all 260,000 users impacted by the theft of NEM coins, at a rate of 88.549 yen (82 U.S. cents) for each coin, according to this -->  statement posted on its website.

-- Rent Money