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Coincheck mulling capital tie-up after massive cryptocurrency theft

  • February 24, 2018
  • , Jiji Press , 8:11 p.m.
  • English Press

Tokyo, Feb. 24 (Jiji Press) — Japanese virtual currency exchange operator Coincheck Inc. is considering a capital tie-up to strengthen its financial base and regain trust following a massive cryptocurrency theft from the exchange in a hacking incident about a month ago, informed sources have said.

There have emerged several possible partners, including an investment fund, according to the sources. “Conicheck’s customer base of over one million is fascinating,” an official in the virtual currency industry said.

But at the same time, there are concerns that Coincheck could lose customers after the hacking incident and that it may become a cyberattack target again. “Investing in the company could involve great risks,” an official at a financial institution said.

Coincheck expressed its eagerness to continue its business in a statement on Monday, saying that the company will strengthen its computer security system and information disclosure policy.

In the 20-minute hacking attack early on Jan. 26, about 58 billion yen’s worth of cryptocurrency NEM was transferred from the exchange to a single account, according to information security experts.

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