Coincheck Announces the Listing of All Cryptos Following January Hack

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Photo Credit: News.Botcoin

Following a devastating hack that saw it lose over $533 million to hackers in January, Japanese crypto exchange Coincheck has now announced that it has reinstated services for all listed cryptos on its platform.

According to reports, Monex Group, a Japan-based online brokerage firm who took control of the exchange since it was hacked in January, announced on Monday that the crypto exchange will now resume deposit and purchasing services for Ripple (XRP) and Fatcom (FCT) tokens.

What this news now means is that Coincheck has now commenced providing services for all the nine crypto assets that were initially listed on the crypto exchange before the hack in January. And besides the two tokens mentioned above, other tokens available for trading on Coincheck include Bitcoin (BTC), ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Bitcoin Cash (BCH), NEM (XEM), Lisk (LSK). Also, Coincheck has now announced Support for ETH, XEM and LSK which were only added only two weeks ago.

It would be recalled that the exchange had in October announced that it had begun accepting new sign-ups for customers living in Japan.  Before then, such services were suspended as regulators wanted the exchange to make serious improvements especially regarding security.

Having commenced trading services, it is expected that Coincheck will now look to resume other services including leveraged transactions and depositing of Japanese yen depositing through convenience stores while also developing a scheme that will allow its customers to pay power bills using cryptocurrency.

Investigations following the January hack revealed that hackers stole some $533 million-worth of cryptocurrencies from Coincheck. This prompted regulators to initiate an on-site inspection that resulted in the restrictions of signup for new customers.

Elsewhere, it was reported that the exchange announced a loss of $5.25 million (588 million Japanese yen) for the Q3 period, no thanks to the January hack.

And since commencing its new trading services, the exchange has now has facilitated about $31 million in trading volume in the last 24 hours.