reuters

Japan’s Coincheck to start repaying customers Monday after digital money heist

TOKYO (Reuters) – Japanese cryptocurrency exchange Coincheck Inc, reeling from government reprimands over lax standards after $530 million dollar theft of digital money, said it would from Monday start repaying customers affected by the heist.

Coincheck also plans to lift curbs from Monday on the trading and withdrawal of some cryptocurrencies, including bitcoin, that it had imposed as it investigated the late-January heist.

Coincheck said last week it would repay about 46 billion yen ($431.6 million)to investors who lost digital money in the hack, one of the biggest of digital money ever.

The incident sparked renewed concern in Japan and abroad over security at cryptocurrency exchanges, and raised questions over the country’s system of regulating exchanges.

In its widest regulatory response yet, Japan’s financial regulator last week punished Coincheck and six other exchanges, ordering them to make improvements in areas from risk management to preventing the criminal use of digital money.

The Financial Services Agency said Coincheck lacked proper systems for dealing money laundering and terrorism financing, and in the second such punishment since the hack ordered it to submit a report on how it would improve by until March 22.

Article Source: Reuters

CloudBuzz

The latest in curated technology related news collected from many of the leading news distribution, industry research and technology vendor firms on the planet.

Here you will find recent news sources from companies such as Reuters, Marketwired, IDC, Gartner or directly from cloud vendors such as Google, Microsoft or Amazon.

Avoiding the IOT ‘Twister’ Business Strategy

Avoiding the IOT ‘Twister’ Business Strategy

IOT ‘Twister’ Most organizations’ ‪ IOT Strategy look like a game of ‪ ‘Twister’ with progress across important IOT capabilities such as architecture, technology, ...
The Cloud Debate - Private, Public, Hybrid or Multi Clouds?

The Cloud Debate – Private, Public, Hybrid or Multi Clouds?

The Cloud Debate Now that we've gotten over the hump of whether we should adopt the cloud or not, "which ...
OpenStack private cloud revenues to outpace its public cloud revenues in 2018

OpenStack private cloud revenues to outpace its public cloud revenues in 2018

OpenStack Private Cloud Revenues Growth of OpenStack private cloud will overtake public cloud revenue for hosting providers sooner than previously ...
GDPR Compliance

A Quick and Dirty Guide to GDPR Compliance

GDPR Compliance Set a reminder: On May 25, 2018, the new General Data Protection Regulation directive from the European Union ...
It’s Not Digital Transformation; It’s Digital “Business” Transformation – Part II

It’s Not Digital Transformation; It’s Digital “Business” Transformation – Part II

Previously in Part I “It’s Not Digital Transformation; It’s Digital “Business” Transformation – Part I” we introduced two fundamental digital ...