Coincheck is Back On the Market After January’s $533 Million Hack

Coincheck experienced heavy losses when cryptocurrencies experienced the biggest gains. Back in January, the Japanese crypto exchange suffered a $533 million hack and suspended all of its activity.

Almost a year later, when the crypto market has 80% less total market cap, the exchange officially reinstated services for all the cryptocurrencies listed on its platform. After the attack on the exchange, it was officially acquired by Monex Group. The Japanese brokerage firm announced yesterday that the exchange has resumed the deposits and purchases of XRP and factom (FCT) tokens.

This officially means Coincheck has resumed services for all of the currencies which were tradeable back when the exchange was hacked in January. The coins are: bitcoin (BTC), ethereum (ETH), ethereum classic (ETC), litecoin (LTC), bitcoin cash (BCH), NEM (XEM) and lisk (LSK). Coincheck added support for LSK, XEM and ETH just two weeks before the launch.

Coincheck is taking slow and steady steps

Just last month Coincheck begun accepting new accounts from users based in Japan. This function was suspended while maintenance was undergoing. Getting over the bad reputation from the attack would be especially hard.

That’s why the exchange is looking to resume as well add many new features which include but are not limited to leveraged transactions, Japanese yen deposits through convenience stores and even utility bill payment options. Bills will be able to be paid in full only with cryptocurrencies.

The attack in January was responsible for the theft of over $530 million-worth of crypto. This led to many regulatory inspections and forced inspectors to block any new customer registrations. The platform was acquired by Monex groups 3 months later for $33.5 million.

Coincheck reported a loss of $5.25 million last month. The loss is for the Q3 period and it came because of yet another attack. Even so, in the last 24 hours, data from CoinMarketCap shows the exchange facilitating over $31 million in trading volume.

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