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$530 million cryptocurrency heist: Japan's Coincheck to report to regulator

Coincheck Inc was stung by the theft of $530 million of digital money in January

Reuters  |  Tokyo 

Photo: Reuters

Japanese exchange Inc, stung by the theft of $530 million of digital money in January, is expected on Tuesday to file a report with regulators on the hacking.

The ordered to raise its standards after the hack and gave the exchange until February 13 to submit a report on the heist, the safety of its systems, and measures it would take to prevent a repeat.

said on Friday it would allow customers to restart yen withdrawals on Tuesday.

The exchange, which froze all withdrawals of yen and digital currencies following the theft, said it had confirmed the integrity of its system security.

has received withdrawal requests from customers totalling about 30 billion yen ($280 million), a person with direct knowledge of the matter told Reuters last week.

Still, the exchange said it would keep restrictions on withdrawals until it could guarantee the secure resumption of its operations. It did not give further details.

The heist exposed flaws in Japan's system of regulating trading, and raised questions over the country's dash to oversee the industry - a move that was in sharp contrast to clampdowns by policymakers in countries such as South Korea, and

First Published: Tue, February 13 2018. 07:22 IST