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One more suit filed against Coincheck claiming almost $800,000

Apr 03, 2018 Posted /  576 Views

One more suit filed against Coincheck claiming almost $800,000

Cointelegraph Japan today reported of another action against ‘Coincheck’- the hacked  Japanese Crypto exchange that has been filed for almost 82 million yen amounting to almost $771,000.

The suit has been initiated against the hacking incident that occurred on Jan 26 in which over  $530 million in NEM were stolen from Coincheck’s hot wallet storage. The exchange froze withdrawals of all cryptocurrencies in the aftermath of the hack, permitting withdrawals and sales of bound coins to start once again in Mid-march.

Two well-known lawsuits that have already been filed against Coincheck by attorney Hiromu Mochizuki, the primary involving ten crypto traders who sued over the freezing of crypto withdrawals, The second Coincheck legal proceeding filed by the same attorney involves 132 plaintiffs, reportedly suing for 228 million yen in damages.

The Japanese firm ITJ, that is answerable for this most recent legal proceeding involving 15 plaintiffs, contains a notice concerning filing for Coincheck damages on the front page of their website. The firm states that they'll “request damages” against Coincheck for the “cryptocurrencies’ value before the incident minus the worth that plaintiffs might withdraw.”

Coincheck began giving refunds in Japanese yen to customers who were victimized by the hack on March 13 at the fixed rate of around 88.5 yen (around $0.83) to at least one NEM coin.

ITJ’s Coincheck damages page, that was written before Coincheck began permitting withdrawals on March 13, states that there are 3 vital price points that aid in deciding the number to be refunded: the first one at 11:58 on Jan 26 when  Coincheck “restricted the deposit” of NEM, the price at 16:37 on Jan 26. Coincheck briefly suspended each crypto and fiat withdrawals, and also the price at the time when the hack was at first reported by the media.


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