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Coincheck Is Considering A Capital Tie-Up


Feb 28, 2018 Posted /  8848 Views


Coincheck Is Considering A Capital Tie-Up

Coincheck is a Japan-based coin exchange platform and faced biggest crypto heist of 58 billion yen worth of cryptocurrency. The company representatives promised to reimburse stolen amount to users in Yen, but the claim has not been processed yet.

As per media sources, coin check is planning a capital tie-up with a motive of strengthening its financial base and regaining trust among customers.

“There have emerged several possible partners, including an investment fund.”

As per an official in crypto industry, Coincheck has a fascinating number of one million users. As the company is not able to reimburse as it promised, the exchange can lose its customers. Companies are afraid of investing in the form of capital tie-up due to current goodwill of Coincheck.

“Coincheck expressed its eagerness to continue its business; the company will strengthen its computer security system and information disclosure policy.” - Jiji Press

Victim Groups

As per Sankei reports, Coincheck officials promised to compensate to around 260,000 customers and restart business which still seems ambivalent. The exchange permitted the withdrawal of Yen on 13th February while crypto withdrawals have not resumed yet.

Reportedly, on 15th February, a group of Coincheck customers filed a suit against the exchange platform in Tokyo district court. The complainants are demanding compensation in NEM and 12 other cryptocurrencies.

Another victim group emerged on 22nd February, and the third one is expected to come forth soon.

At the beginning of February, the victims of coincheck organized a meeting. As per media sources, around 35 members attended the meeting with three lawyers. An association has been established against Coincheck.

As per Nikkei reports, the Tokyo police department is setting up a team of 100 investigators familiar with the Blockchain technology to detect the criminals.


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Tags: coincheck

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