Coincheck says will complete reimbursement for customers
TOKYO (Kyodo) -- Coincheck, the Tokyo-based operator at the heart of a massive digital money theft, said Monday it will complete reimbursement for customers later in the day while resuming part of its business including selling and withdrawing the digital coins.
"We once again apologize for all of the inconvenience and worries we have caused," Coincheck said in a statement. "We will revamp our internal control and management and pledge to review our business strategies to protect our customers."
Following the theft of 58 billion yen ($544 million) worth of digital money in January, Coincheck has promised to compensate some 260,000 holders of the stolen cryptocurrency NEM to the tune of 46 billion yen.
Since the virtual currency theft, Coincheck had suspended most of its cryptocurrency trading and withdrawals, leaving users unable to sell the coins to limit their losses even in the face of a price drop.
Last week, the Financial Services Agency took administrative action against seven digital currency exchanges across the country, ordering two of them to suspend business in the first such penalty against cryptocurrency exchanges.
The financial watchdog judged that risk management and consumer protection at Coincheck were insufficient.