Hacked Japanese cryptocurrency exchange to repay affected users $425 million

The losses of 260,000 customers of Coincheck, deprived of their money in what appears the to be the biggest crypto heist in history, will be repaid over $425 million. Even that sum does not cover all the damages.

The Japanese cryptocurrency exchange platform Coincheck suspended trading and withdrawals on Friday, as hackers had stolen more than 500 million NEM worth up to ¥58 billion ($532 million). As the news broke the token price plunged more than 15 percent from the day’s high of around $1.02, down to $0.85.

source: https://www.rt.com/business/417198-coincheck-exchange-hack-reparations/

Author: Rayan M

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