Coincheck Japanese Cryptocurrency Exchange begins to pay back customers who were affected by the January 26 piracy d & # 39; about $ 534 million in NMS, as well as allowing the withdrawal and sale of certain cryptocurrencies, according to two press releases published today, March 12, at the Coincheck site

Withdrawals from following currencies, Ethereum (ETH), Ethereum Classic (ETC), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Bitcoin (BTC) have resumed. According to the press release, which also noted that BTC sales have never been suspended, ETH, ETC, XRP, LTC, BCH can now also be sold again on the stock exchange.

On March 8, Coincheck had repeated a previous announcement that they will soon begin to repay NEM customers. The compensation will be paid in Japanese yen, at the rate of about 88.5 yen (about 0.83 dollar) for a NEM coin.

The Japan Financial Services Agency (FSA) initially reacted to piracy by conducting on-site inspections of 15 non-registered cryptocurrency trades in Japan. As a result of inspections, the FSA sent improvement orders to seven of these exchanges, including Coincheck.

On the Coincheck press release on the resumption of certain cryptographic sales, they addressed their order for improvement:

"We will solemnly and seriously take the measures we take carefully and think deeply about ourselves and drastically examine our internal control system and management control system and revise the management strategy that protects clients. "

The NEC hack was attributed to Coincheck having stored the NEM on a hot low-security wallet. Once the hackers managed to steal the private key from the wallet, they were able to take the funds.

The Nikkei Asian Review wrote today, March 12, that virus-infected emails have been sent to multiple members. a few days before the attack, possibly opening the employee messaging system to allow hackers to steal the private key.

After sending and opening e-mails, the Coincheck system began contacting external services based in Europe. United States without proper authorization. This communication continued until midnight on 25 January, stopping in synchronization with the NEM leaving the hot wallet in the early hours of 26 January.

Part of NEM Coincheck Stolen Assigned to Canadian Crypto Exchange Following the hacking, ten crypto traders filed a lawsuit in mid-February against the freeze on Coincheck's crypto withdrawals. Another 132 crypto investors filed another lawsuit in early March, seeking about 228 million yen (about $ 2 million) in damages.