The Japanese crypto exchange that was the victim of a $530 million heist is being taken over
- Japanese crypto exchange Coincheck was the victim of a $530 million heist in January.
- Now the firm has accepted a takeover offer from online brokerage Monex Group.
Founding president Koichiro Wada and COO Yusuke Otsuka will step aside as part of a broad management reshuffling to appease regulators. Monex's COO Toshiko Katsuya will take over as president.
The Coincheck heist was the largest hack yet of a cryptocurrency exchange, according to a recent study by JPMorgan. The bank estimates one-third of all bitcoin trading platforms have been compromised, with hackers stealing over $630 million worth of bitcoins.Coincheck is currently applying for a license from Japan's Financial Services Agency, which is now a requirement for all cryptocurrency exchanges in the country after a law was passed last spring.
- Lockdown: Egyptian boy undergoes life-saving heart surgery using IIT Madras' virtual reality model
- 4 more test positive for COVID-19 in Manipur, total count 66
- JIPMER doctor, 8 others test positive for COVID-19 in Puducherry; Active cases rise to 46
- Lockdown impact: Grooming products register '5X growth' in sales
- Summer Alert! Celebs brace the heat by stripping down to their bikinis