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Involvement of Crypto Exchange hacked Ripple, Factom
November 27, 2018 of Akshay Makadiya
Japanese cryptographic exchange Coincheck has relisted the last two digital currencies from its original lineup, Ripple (XRP) and Factom (FCT), after losing half a billion dollars of cryptocurrency in an attack at the start of this & # 39; year. The move brings the exchange to a semblance of its previous operations.
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Reconstruct lost trust
The parent company of Coincheck, Monex Group, an online brokerage and securities trading company, announced the resumption of the XRP and Factom (FCT) negotiations on the Coincheck platform.
After the announcement, both XRP and FCT saw temporary increases in their respective prices.
Monex stressed that digital currencies were put back on sale after the company obtained a technical security check by external experts. A complete overhaul of Coincheck's security model and internal management structure has been facilitated by the company in recent months.
To date, Coincheck has resumed the following services: new account registrations for Japanese citizens, customer deposits in yen and cryptocurrency services for negotiation and lending.
Monex's announcement also highlighted that other services, such as leveraged transactions, should resume soon.
Returning to the competitive Japanese trading market
In October 2018, Monex declared similarly that the ethereal Coincheck relict, Lisk and NEM – NEM, of course, was the digital currency that was the focal point of the already infamous $ 530 million dollar hit of the exchange .
Ten months ago, Coincheck saw $ 530 million of NEM token stolen from unknown cybercriminals. In April, Monex accepted to acquire Coincheck after the exchange failed to repay its customers after the record incision.
Initially, the Coincheck license to operate as a cryptographic exchange was closed by the Japanese financial regulatory authority, the Financial Services Agency (FSC).
As a result, FSC asked Monex to first address security vulnerabilities and then reapply for a license. That license has now been restored and Coincheck is making moves accordingly.
Last month, the Japanese exchange reopened withdrawals and deposits for bitcoins, bitcoin liquidity, litecoin and classic ethereum.
Will the traders once again show their trust in Coincheck? Share our opinions in the comments section.
Images via Pixabay
