The Cryptocurrency Exchange Coincheck Will Partially Resume Work with Monero Cryptocurrency

The Japanese cryptocurrency exchange Coincheck announced on Monday, the 7th of May, that it was resuming Monero operations (XMR), which gives users the opportunity to withdraw and sell virtually coins again.

At the same time, the ability to buy XMR is currently not available for use. Moreover, it is reported that all transactional applications were canceled, which forces users to make transfers anew.

Additionally, traders will enter another recipient address for security reasons. Such a measure is necessary to exclude the possibility of bugs. Exactly the same changes will affect sales of coins, because the system will be asked to confirm the information that users leave during registration in order to make a transaction.

Now, in order to send a XMR coin, you need to fill in one more new “the purpose of transfer” window, and other operations will need to confirm the identity of the user. The message says that the verification of personal data will most likely be carried out for several days.

Also, Coincheck can suspend any operations in order to avoid the hassles that may arise as a result of the network being overloaded or if price jumps occur.

We would like to remind you that due to hacking, which resulted in theft of $ 534 million, Coincheck stopped working with the anonymous digital currencies Monero, Dash and ZCash. However, trading in these cryptocurrencies was partially resumed on the 12th of March and compensation was paid to NEM holders.

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