Ten] Coincheck also partnered with SEKAI to support Chinese, Hong Kong, and Taiwan investors to buy Japanese real estate with bitcoin.

Coincheck is a bitcoin wallet and exchange service headquartered te Tokyo, Japan, founded by Koichiro Wada and Yusuke Otsuka. It operates exchanges inbetween bitcoin/ether and fiat currencies ter Japan, and bitcoin transactions and storage ter some countries worldwide. [1] [Two] [Trio] Te April 2018, Coincheck wasgoed acquired by Monex Group for Trio.6 billion yen. [Four]

Coincheck commenced ter August 2014 and is operated by Coincheck, inc. (previously ResuPress, inc) (founded te 2012). Spil of August 2018, the exchange had overheen $160 million transactions vanaf month. [Five] [6] [7] There were then more than Two,200 merchants using their bitcoin payment solution, just te Japan. [8] Coincheck is a member of JBA (Japan Blockchain Association) [9] and is actively helping to build the Japanese bitcoin community’s usage standards with the government.

Te March 2018, the entertainment company DMM.com with a user-base of more than Nineteen million determined to use Coincheck’s bitcoin payment processing solution. [Ten] Coincheck also partnered with SEKAI to support Chinese, Hong Kong, and Taiwan investors to buy Japanese real estate with bitcoin. [11] [12] The company also supports the buying and selling of ether, [13] DAO, [14] [15] LISK, [16] [17] and Ethereum Classic. [Legitimate]

2018 hacking incident Edit

Te January 2018, Coincheck wasgoed hacked into and approximately 500 million NEM tokens were exfiltrated, amounting to about ?58 billion (or ?280 million) stolen. [Nineteen] The currency wasgoed transferred through a total of nineteen accounts, one of which wasgoed found to have no connection with the hacker. [20]

The hack led two of Japan’s crypto-currency trade groups to merge into a fresh self-regulatory organization. [21] The Financial Services Agency took administrative activity by ordering Coincheck to improve its security practices, [22] but did not order the exchange to shut down out of a concern for the protection of its users. [23] Coincheck originally announced that it may not be able to compensate all users affected by the hack, [24] but then announced that it would repay all 260,000 users affected te Japanese yen using its own capital. [25]

The hack only involved NEM. Because the security breach wasgoed caused by the lack of strong security measures of Coincheck, the NEM development team refused to conduct a hard fork. Instead NEM is creating an automated tagging system. This automated system will go after the money and tag any account that receives tainted money. [21]

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