Coincheck to reimburse clients who lost their NEM in the hack

Coincheck , the Japanese based exchage that was hacked of around $400-530 million dollars worth of NEM has issued another release to its clients stating it will reimburse all 260,000 of the accounts affected.

Coincheck States that it will not be reimbursing NEM but instead will do so in Japanese Yen. The rate that they will use is the rate after the time of the hack and will be based on another crypto currency exchange’s rate at the time ( more specifically Zaif) . That rate being 88.549 yen.

Coincheck is not clear when this process will take place but it stated that it will keep clients informed about it as well as any new information on the hack . They also stated that they where doing everything in their power to become registered with the FSA.

By viewing the coincheck chat group, many clients appeared to be happy while others were furious and disappointed. The happy ones were the ones who bought NEM when it was very cheap and furious are the ones who bought NEM at ¥200 ( about $1.80). They would much rather get a higher rate of compensation or their NEM coins back.

I personally feel something good is going to come of this hack as the accounts that have the stolen NEM have been tagged. And also newbies like me will now purchase an offline storage device!

What do you think of coinchecks actions so far regarding the hack ?