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Coincheck to repay all customers affected by Hack, facing community support

Coincheck Japanese currency exchange announced on Saturday, Jan. 27, that it will fully reimburse to the 39; all 260,000 of its users who have

Coincheck exchange was hacked yesterday, January 26, resulting in a massive loss of 523 million pieces NEM, a value about $ 534 million at this time. In a press release following the hacking, stock market officials revealed that the funds were stored on a single, single-signature wallet, constituting a relatively insecure environment.

The company has now confirmed its intention to repay the stolen money to the concerned users. According to the announcement, repayments will be made using the equity of the exchange.

The company is still studying the exact timing and methodology of the process. However, he has already announced that the compensation for each NEM coin will be 88,549 JPY, which is the weighted average exchange rate during the period from the trading halt to the publication of the last ad.

that they refer to the XEM / JPY exchange rate at Zaif, another Japanese stock exchange that holds the largest trading volume for XEM globally.

Moreover, Coincheck confirmed his intention to stay in business rather than declare bankruptcy, saying:

"Parallel to our continuing efforts to file claims for damages. registration as a Cryptocurrency exchange service provider with the Financial Services Agency, we will continue our activities. "

The Community Reacts Favorably

The NEM Coin Theft represents the largest hacking event in the history of cryptocurrency since the collapse of the infamous Mount Gox, which also took place in Japa The fact that the local community has already been the subject of a "battle test" probably contributed to the fact that this last event remains largely unperturbed.

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This is mostly reflected in the numbers because the Japanese cryptocurrency markets on the rise today, less than 24 hours since the hacking took place.

NEM also responded positively to the & ま S は っ っ た 1945 Worldwide, with a jump of nearly 30 percent on Coincheck's announcement, according to Coinmarketcap.

<img alt=" NEM "src =" https://cointelegraph.com/storage/uploads/view/f6e94bab5862afd4f7c9ade5a211e68a.png "title =" NEM "/>

The Need to Support Coincheck , especially in light of their commitment to repaying affected customers, has been a common sentiment among the opinion leaders of the Japanese crypto community today, even though they acknowledged that the stock market did not provide enough security for its NEM portfolio チ ェ ッ ク に が る 間 間 い い い い い い い す す す す ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ね ねで す よ
今後 個 的 的 的 的 的 的 き き き き き き き 之 之 之 之 之 之 之 之 き き き き 之 之 き 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之 之Bitcoin, Blockchain) (@bigstonebtc) January 26, 2018

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Meanwhile, the development team behind NEM announced that she is working on an automated system that will track stolen coins and mark all addresses that receive "corrupted" money. This will allow any exchange of cryptocurrency to blacklist the accounts of the pirates, thus preventing them from cashing their illegally obtained wealth.

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