The crypto currency exchange Coincheck will pay users $400 million

Representatives of the Japanese cryptocurrency exchange Coincheck has announced plans to compensate for losses of user: exchange to indemnify the clients for the expense of own means.

According to an official statement on the website of the company Coincheck will pay the victims of the theft of NEM coins 260 000 tokens to users for $400 million as a result of hacking it was stolen 523 million coins.

«In examining the timing of the reversal and the application process, the statement reads Coincheck. – We will indemnify for the losses of users at the expense of own means».

According to the statement, the refund will be made based 88.549 yen ($0.81) for every coin.

According to local source, the Nikkei, the financial services Agency of Japan (FSA) has instructed Coincheck to investigate the vulnerabilities that led to the break-in, and submit the plan «effective management of systemic risk» to prevent a repeat of the incident. According to the publication, the FSA will also undertake verification of other exchanges.

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