Monex is a leading online securities company formed through the merger of Monex, Inc. and Nikko Beans, Inc. According to Reuters the group is considering buying Coincheck Inc, the infamous Japanese exchange which was the victim to one of the biggest hacks to date resulting in a $530 million of total loss in XEM/NEM coins.

No further details were released, but reportedly the deal could be worth several billion yen. In case it is happening, Monex will gain access to Concheck’s trading platform and naturally to its customer base as well. It is not clear how many registered users Coincheck possesses, but the reality is that with this move a lot of people would gain the chance to dive in the cryptocurrency space as Monex is a mainstream player among the financial service operators as they are currently rank number 3 between only brokerages by accounts in Japan. Now the company is valued at around $870 million, but with such plans we could expect this number to keep increasing.

For the exchange this is a great possibility for a fresh start, as according to Nikkei the exchange has been hit by three class action lawsuits from its customers who lost funds during the hack. Stay tuned as we expect official statement this week regarding the deal.