Home / Markets / Cryptocurrency / Hacked crypto exchange Coincheck sold to Japan's Monex for $34 mn

Hacked crypto exchange Coincheck sold to Japan's Monex for $34 mn

Monex, Japan's No.3 online brokerage by customer accounts, said in a statement on Friday it would buy all Coincheck's shares

Premium

Cryptocurrency exchange Coincheck's signboard is pictured in front of a building where their office is located, in Tokyo, Japan (Photo: Reuters)

Reuters

Last Updated : Apr 06 2018 | 4:03 PM IST

Japanese online brokerage firm Monex Group Inc will buy Coincheck Inc, the exchange at the centre of a $530 million digital money heist, for 3.6 billion yen ($33.6 million), the latest move by a mainstream finance firm into the cryptocurrency market.

Monex, Japan's No.3 online brokerage by customer accounts, said in a statement on Friday it would buy all Coincheck's shares on April 16 in a move that will allow it to access Coincheck's trading platform and customer base.

The deal comes amid regulatory pressure for tighter standards at Japan's cryptocurrency exchanges after the $530 million theft of digital money from Coincheck

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in