On Saturday, January 27th Japanese cryptocurrency exchange Coincheck announced that it would return the funds of its users who had suffered from hacker attacks on the NEM cryptocurrency.
260 000 users lost 523 million NEM coins that cost about 534 million dollars at that time.
The company confirmed its intention to return the stolen assets to the users. According to the announcement, the exchange will use its own capital to compensate the losses.
Coincheck stated that they refer to the XEM / JPY exchange rate on Zaif, another Japanese exchange that has the largest worldwide trading volume for XEM.
In addition, Coincheck again confirmed its intention to remain in business but not to declare bankruptcy, having stated the following.
Reparations policy towards users affected by the illicit transfer of the cryptocurrency NEM from Coincheck https://t.co/uaYAwj4QcM
— Coincheck (@coincheck_en) January 28, 2018
Furthermore, Coincheck has again confirmed their intention to stay in business, as opposed to declaring bankruptcy, saying:
”Along with our ongoing efforts to file applications to be registered as a Cryptocurrency Exchange Service Provider with Financial Services Agency, we will continue business.”