Coincheck was approved by the office of the financial news was “the face”, hacking after exchange can turn over?

This Wednesday, English Business Journal “Nikkei Asian review” published an article claiming that Japan’s Coincheck will get the country’s financial regulator approved this month to become a trading license encryption currency exchange.

The article said that Japan’s financial services agency (FSA) found that Coincheck is eligible to receive encrypted currency exchange in Japan business license, because after 4 months of this year, after the online brokerage company Monex Group Coincheck acquisition, Coincheck has made the improvement to the customer protection and other system “.

But the news on the same day, Coincheck is the parent company of the Monex group issued a statement refuting.

The open letter said: “Coincheck is an encryption currency trading review. However, there is no established facts about registration. If the future Coincheck’s facts need to be disclosed, we will promptly and properly disclosed.”

Hacker theft star Coincheck

Once as Japan’s largest stock exchange, Coincheck was fame.

From April 2017 to 10 months of January 2018, Coincheck revenue of up to 53 billion 200 million yen ($490 million), once as Japan’s largest stock and derivatives exchange operator, Japan exchange group.

But in the first 1 months, due to hacker attacks, 526 million XEM (about $400 million) stolen, Coincheck drop altar, became the largest in the history of digital currency theft lead.

The hacker attack causes the Coincheck to suspend a series of services, including the extraction of any funds, including the yen denominated funds; the sale and purchase of all encrypted bitcoin outside except currency; and some credit card payment services and convenience stores.”

The butterfly effect is greater, the hacker incident, Japan’s rare FSA warned that Japan all digital currency exchange to check the security of the system, and immediately reported to regulatory authorities endangering the safety of things, at the same time, FSA also suspended for all encryption currency exchange license, began in September this year to a large number of applications to deal with the backlog of. In addition, the Japanese currency wallet encryption orders also increased hard.

However, it is a hacker attack after the Coincheck issued the “compensation policy, compensation to about 26 million users affected by hackers. In March this year, the market observation (Market Watch) said in a report, the company has been successful for the customer refund, and pay 46 billion 300 million yen (about $435 million at the time).

Monex remedy

After a month of hacker attacks, Coincheck received a business improvement from the FSA command, ordered to improve its customer protection and anti money laundering measures (AML).

In April this year, the exchange further decided to reorganize its shareholders and management, to become Japan’s precious metals exchange, a wholly owned subsidiary of Monex. After the completion of the acquisition, will be led by Monex Coincheck of the reconstruction work. President Monex’s chief operating officer Toshihiko Katsuya will serve as Coincheck Coincheck; former president and chief operating officer will immediately retire.

In the new leadership team under the leadership of Coincheck conducted a series of rectification.

Among them, in the 6 month 18 days, to further reduce the risk of money laundering, Coincheck stop the related business for the Monero, Zcash, Dash, Augur four kinds of anonymous digital currency.

10 30 August Monex issued a notice, declared that the “outside experts” on the exchange technology of safety confirmation, Coincheck will gradually restart the service”.

According to the notice, October 30th, Coincheck customers can exchange again to open a new account, deposit and the purchase of BTC, ETC, LTC and BCH, send and sell trading on the exchange of encryption and access to currency, the yen.

The notice also pointed out that the exchange is trying to recover and ETH, XEM, LSK, XRP and FCT deposits and the purchase of related services, and deposit the yen at the convenience store through “quick deposit”. During this period, the exchange is also committed to open payment and ancillary services, allowing new leveraged transactions, and allows customers to pay by Coincheck DENKI virtual currency bill.

According to Japan’s Monex group, CEO Matsumoto was at the press conference said, the biggest goal is to obtain business registration from Japan’s financial services agency.

This goal is not easy, since the 2017 year 4 month Japan revised “payment service law” (Payment Services Act) in Japan since all operations are required to obtain a license exchange encryption. But with the continuous improvement of FSA application requirements throughout 2018, as of press time ago, as many as 200 applicants are still waiting for the operating license of decision.

And since the Coincheck rectification since the Japanese industry there has been its security has been committed to improving the business environment, but obviously improve the speed is still not sound.

The good news was suspected but denied, can not help but think that this exchange besieged on all sides will win the FSA trust?

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