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.

Chris

How to Avoid Becoming Another Cloud Security Statistic

Cloud Security Statistic Last year, Gartner predicted that, by 2020, 95 percent of all cloud security failures will be caused ...
Protect Against Network Failures

Five Things Organizations Can Do To Protect Against Network Failures

Protect Against Network Failures It is no surprise that whenever there is an outage in a public or private cloud, ...
Cloud Services Providers - Learning To Keep The Lights On

Cloud Services Providers – Learning To Keep The Lights On

The True Meaning of Availability What is real availability? In our line of work, cloud service providers approach availability from ...
Global Public Cloud Spending To Double By 2020

Global Public Cloud Spending To Double By 2020

The Cloud and Endpoint Modeling The worldwide migration of IT resources to the public cloud continues, at a head-spinning pace ...
Maintaining Network Performance And Security In Hybrid Cloud Environments

Maintaining Network Performance And Security In Hybrid Cloud Environments

Hybrid Cloud Environments After several years of steady cloud adoption in the enterprise, an interesting trend has emerged: More companies ...
Tesla is Worth More Than Ford or GM. Is this the Automakers iPhone Moment?

Tesla is Worth More Than Ford or GM. Is this the Automakers iPhone Moment?

The Automakers iPhone Moment Remember Blackberry? How about Nokia or Motorola? Vaguely you say. Will we one day state the ...
Microsoft quarterly results beat as cloud revenue soars

Microsoft quarterly results beat as cloud revenue soars

(Reuters) - Microsoft Corp (MSFT.O) on Thursday posted quarterly profit and revenue that beat analysts’ estimates, as more businesses signed up for its Azure cloud computing services and Office 365 productivity suite. The company’s flagship ...
The Virtue of Intelligence in the Cloud

The Virtue of Intelligence in the Cloud

According to a recent IDG survey, about 70% of companies have at least one application in the cloud. An additional 43% want to migrate most, or all, of their data workloads and analytics capabilities to the ...
Google hit with record $5 billion EU antitrust fine

Google hit with record $5 billion EU antitrust fine

EU regulators hit Google with a record 4.34 billion euros ($5 billion) antitrust fine on Wednesday for using its Android mobile operating system to squeeze out rivals. The penalty is nearly double the previous record ...