Recently, Coincheck has restored two cryptocurrencies – XRP and FCT – on its platform. With this announcement, the Japanese cryptocurrency exchange is now back to its full complement of virtual currency lists.
Complete recovery of deposit and purchase
In a press release published by Coincheck on Monday (November 26, 2018), the cryptocurrency exchange announced the resumption of deposit and purchase services for both XRP and FCT. According to the company, this move comes after intense efforts to improve its security framework after the attack it suffered in January 2018.
As part of the announcement, Coincheck advised its customers to take some precautions during the transaction in the reintegrated cryptocurrencies. With the addition of XRP and FCT, the platform returned to its full complement of digital tokens in its trading catalog prior to the 2018 NEM robbery.
The press release also announced that Coincheck was planning to resume other services. These include the affiliate service, Coincheck's electric bill, JPY pay-easy, as well as leveraged trading. The platform is, however, waiting for external experts who are currently examining their technical security framework to give the go-ahead before resuming those services.
Recovery from January Hack
For Coincheck, Monday's announcement is part of a series of events aimed at putting the platform back on track. In January 2018, hackers stole more than a billion dollars in NEM cryptocurrency tokens. This incident led the company to suspend many of its services while the Japanese Financial Services Agency (FSA) stepped up its initiative to heal the local cryptocurrency trading scene.
As a result of the hack, Monex Group acquired Coincheck, and it would not be the last time that a hacked cryptocurrency trading platform would be forced to sell. Later in the year, Bithumb, based in South Korea and Zaif based in Japan, also lived the same fate.
Since hack, Coincheck has been trying to get back on track since February, when he restored fiat pickup services. Between March and June 2018, the platform began to facilitate the provision of exchange services for some cryptocurrencies.
At the beginning of the month, Live Bitcoin News reported that the exchange was resuming account opening services, as well as cryptocurrency trading services such as Bitcoin, Ethereum Classic and Litecoin. Currently, the exchange offers nine cryptocurrencies on its platform.
Do you think that Coincheck was able to put in place the necessary procedures to prevent the occurrence of another cryptocurrant robbery? Let us know your thoughts in the comments section below.
Images kindly granted by Coincheck and Shutterstock.