Coincheck to Reimburse $425 Million Dollars

in #bitcoin6 years ago

So as you heard Coincheck got hacked. During this time the Japanese crypto exchange overall, 58 billion yen worth (just over $533 million USD) of NEM coins were stolen, which forced the crypto exchange to shut down all withdrawals except for bitcoins. The exchange is going to reimburse its 260,000 members affected by this hack.

The statement released by the exchange was:

"We realize that this illicit transfer of funds from our platform and the resulting suspension in services has caused immense distress to our customers, other exchanges, and people throughout the cryptocurrency industry, and we would like to offer our deepest and humblest apologies to all of those involved. In moving towards reopening our services, we are putting all of our efforts towards discovering the cause of the illicit transfer and overhauling and strengthening our security measures while simultaneously continuing in our efforts to register with the Financial Services Agency as a Virtual Currency Exchange Service Provider.

Tip: Dont hold all your cryptos in one exchange or wallet. Think about purchasing a hard wallet. The costs of a hard wallet cost about 150$ USD. Remember to protect your money.