Coincheck Customers Will be Refunded

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Yesterday, Coincheck announced that the users will be refunded “by the end of next week.” A blog post quoted by Cointelegraph Japan, said that the company was planning to reopen its exchange within the same time.

The platform’s users will be notified regarding future updates for refunds and the time when the trading will resume.

A firm that is working on the hack’s consequences revealed this week that some of the tokens involved in the fraud were found and uncovered in Vancouver, Canada.

After its investigation on different exchanges such as Coincheck, the Japanese Financial Services Authority (FSA) sent punishment notices to 7 cryptocurrency exchanges, ordering them to stop transacting together.

Coincheck explained to its users its new mindset with security measures.

Coincheck’s CEO, Koichiro Wada said,

“In addition to strengthening in-house monitoring as countermeasures against unauthorized access from the outside as in this case, we will be carrying out security monitoring by external expert institutions concerning financial systems security and cyber security.”

Japan has taken some serious initatives regarding cryptocurrency exchanges, following the recent Coincheck hack by shutting down unsafe exchanges.

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