
Coincheck logo license#
Ken Kawai, a partner at Anderson, Mori & Tomotsune in Tokyo who has advised financial organizations and startups about fintech, told reporters Coincheck was allowed to operate as an exchange while its application for a license was still pending. While 16 cyrptocurrency exchanges have been registered in Japan, Coincheck was not one of them. Japan has seen its share of global crypto trading rise following restrictions in China and South Korea. As long as those funds are off public exchanges they will be very difficult to liquidate, especially in large amounts." The foundation has called on the cryptocurrency community to take proper security measures such as hardware wallets and multifactor authentication. The NEM Foundation, the organization behind NEM, said Wednesday it is closely monitoring the stolen funds, adding, "None of the stolen funds have been sent to any exchanges. Officials at the watchdog and the company were not immediately available for comment.

The FSA is now probing Coincheck's finances and trying to determine how the hack took place, as well as whether proper security measures have been set up, the Nikkei newspaper reported. More from Global Investing Hot Spots: Bitcoin's January struggles may hold clues for the future Both stocks and bonds in a bubble? Warren Buffett, already 'god of stocks' in China The company has said it will reimburse them with yen, but questions have emerged about its ability to pay, as well as why it had currencies stored in a hot wallet connected to the internet and thus potentially vulnerable to thieves. Some 260,000 Coincheck customers were victimized in the theft.

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