Read

Edit

History

Notify

Share

Coincheck

Coincheck is a bitcoin wallet and exchange service headquartered in Tokyo, Japan, founded by Koichiro Wada and Yusuke Otsuka. It operates exchanges between Bitcoin, ether, and fiat currencies in Japan and Bitcoin transactions and storage in some countries[1][2][3].

In April 2018, Coincheck was acquired by Monex Group for 3.6 billion yen.

History

Coincheck started in August 2014 and is operated by Coincheck, inc. (previously ResuPress, inc) (founded in 2012). There were then more than 2,200 merchants using their bitcoin payment solution, just in Japan.  Coincheck is a member of JBA (Japan Blockchain Association)  and is actively helping to build the Japanese bitcoin community's usage standards with the government[4][5].

Coincheck partnered with SEKAI to support Chinese, Hong Kong, and Taiwan investors to buy Japanese real estate with bitcoin.

2018 hacking incident

In January 2018, Coincheck was hacked and approximately 500 million NEM tokens ($530 million) were stolen.   The currency was transferred through a total of nineteen accounts, one of which was found to have no connection with the hacker[6].

The hack led two of Japan's crypto-currency trade groups to merge into a new self-regulatory organization. The Financial Services Agency took administrative action by ordering Coincheck to improve its security practices, but did not order the exchange to shut down out of a concern for the protection of its users.  Coincheck initially announced that it may not be able to compensate all users affected by the hack,  but then announced that it would repay all 260,000 users affected in Japanese yen using its own capital[8].

See something wrong? Report to us.

Coincheck

Feedback

Average Rating

No ratings yet, be the first to rate!

How was your experience?

Give this wiki a quick rating to let us know!

Twitter Timeline

Loading...

Loading

Media

REFERENCES

Join the IQ Brainlist

Sign up for the IQ Brainlist to get early access to editing on the IQ.wiki site!

Join Now

Subscribe to our newsletter

Never miss any of the most popular and trending articles on IQ.wiki when you sign up to our email newsletter.

Subscribe

IQ.wiki

IQ.wiki's vision is to bring blockchain knowledge to the world and knowledge onto the blockchain. A part of Brainfund group

https://twitter.com/IQWIKIhttps://www.reddit.com/r/Everipedia/https://t.me/everipediahttps://www.instagram.com/iqwiki_/https://github.com/EveripediaNetworkhttps://discord.gg/x9EWvTcPXthttps://web.facebook.com/everipedia?_rdc=1&_rdr

IQ

What's IQ?StakingBonds

Company

About usCareersBrandingIQ GPTIQ Dashboard

© 2024 IQ.wiki Powered ByBrainDAO& IQ