![]() ![]() Japanese officials have suggested Coincheck lacked proper security measures, leaving itself vulnerable to theft. It is difficult and expensive for small-scale individual investors to file lawsuits in Japan. “I was surprised and worried at the incident,” he said on condition of anonymity.Ī class-action suit is the best way to proceed in this case, as it is similar to when a large number of people seek damages over faulty consumer goods, said lead lawyer Kanehito Kita. One plaintiff in his 20s told reporters he had invested 400,000 yen ($3,730), adding he wanted it back “as soon as possible.” On Tuesday, Coincheck said it had resumed operations for withdrawals denominated in Japanese yen but has still frozen withdrawals of a dozen different kinds of cryptocurrencies. The company has already pledged to reimburse about $400 million to all 260,000 customers who lost their holdings of NEM, the 10th biggest cryptocurrency by market capitalization.Ĭoincheck halted operations after the hack and prevented traders from withdrawing their virtual currency from the exchange - a decision that left those assets in limbo while the cryptocurrency markets continued to move. The hack of Coincheck - resulting in the disappearance of NEM cryptocurrency worth $530 million - prompted authorities to search the firm’s office earlier this month, after slapping it with an administrative order. Investors in this second class-action lawsuit planned later this month would likely seek compensation for the drop in their assets’ value while Coincheck halted withdrawals in the wake of the hack. They are seeking the reimbursement of 19.53 million yen ($167,000) in virtual currencies and further compensation for interest lost due to the hack, plaintiffs’ lawyer Hiromu Mochizuki said after the filing.Īnd Mochizuki warned his firm had received enquiries from “some 1,000 people” also considering a class-action legal suit over the hack, which was one of the largest of its kind. Seven plaintiffs - two companies and five individuals - took part in an initial lawsuit filed at the Tokyo District Court. Compare Standard and Premium Digital here.Īny changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel.TOKYO: Cryptocurrency traders filed a lawsuit Thursday against Japanese exchange firm Coincheck, seeking repayment after hackers raided hundreds of millions of dollars in digital assets. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many user’s needs. If you’d like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month.įor cost savings, you can change your plan at any time online in the “Settings & Account” section. For a full comparison of Standard and Premium Digital, click here.Ĭhange the plan you will roll onto at any time during your trial by visiting the “Settings & Account” section. ![]() Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Standard Digital includes access to a wealth of global news, analysis and expert opinion. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. ![]()
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