Alas, as of the close last Friday, Coinbase’s market cap has leveled off some, coming in at around USD 52.5bn. So you can bet that any crypto exchange operator around the globe is doing the comparison. 132 more crypto investors filed another lawsuit in early March, seeking around 228 mln yen (around $2 mln) in damages.First quarter results are in, and this time we have the benefit of comparing any exchange to the gold standard, with US-based Coinbase choosing the path of a direct listing, and registering an eye-popping market capitalization of close to USD 80bn on the first trading day.
In the aftermath of the hack, ten crypto traders filed lawsuits in mid-February over Coincheck’s freezing of crypto withdrawals. Some of the stolen Coincheck NEM has been traced to both a Canadian crypto exchange, as well as Japanese NEM exchange Zaif. 25, discontinuing in synchronization with the NEM leaving the hot wallet in the early hours of Jan. This communication continued until midnight on Jan. Local news outlet the Coincheck-targeted-by-suspicious-traffic-for-weeks-before-NEM-heist" rel="nofollow,noopener" target="_blank">Nikkei Asian Review wrote today, March 12, that virus-infected emails were sent to several members of Coincheck staff weeks before the attack, perhaps opening the employee email system to allow the hackers to steal the private key.Īfter the malware emails were sent and opened, Coincheck’s system began contacting external services based in Europe and the US without any proper authorization. Once the hackers managed to steal the private key for the wallet, they were able to take the funds. The NEM hack was attributed to Coincheck having stored the NEM on a low security hot wallet. “We will solemnly and seriously take the measures we take carefully and will deeply reflect on ourselves and will drastically review our internal control system and management control system and will review the management strategy that thoroughly protects customers.” On Coincheck’s press release on the resumption of some crypto sales, they addressed their business improvement order: As a result of the inspections, the FSA sent business improvement orders to seven of these exchanges, including Coincheck. Japan’s Financial Services Agency (FSA) had initially responded to the hack by conducting on-site inspections of the 15 unregistered cryptocurrency exchanges in Japan. Compensation will be paid in Japanese yen, at the rate of around 88.5 yen (around $0.83) to one NEM coin. On March 8, Coincheck had repeated a previous announcement that they would soon start refunding NEM customers. According to the press release, which also noted that BTC sales were never paused, ETH, ETC, XRP, LTC, BCH can now also be sold again on the exchange. Withdrawals of the following currencies, Ethereum ( ETH), Ethereum Classic ( ETC), Ripple ( XRP), Litecoin ( LTC), Bitcoin Cash ( BCH), Bitcoin ( BTC) have resumed. 26 hack of around $534 mln worth of NEM, as well as allowing the withdrawal and sale of certain cryptocurrencies, according to two press releases published today, March 12, on Coincheck’s website. Japanese cryptocurrency exchange Coincheck is starting to refund customers that were affected by the Jan.
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