Coincheck, the Japanese cryptocurrency exchange at the center of a recent hack, starts reimbursing victims today.
NEM's XEM token is solidly bid following the Japanese exchange's announcement that it will commence refunding hacked users next week.
Japanese cryptocurrency exchange Coincheck has said it plans to compensate victims of its January hack starting next week.
Japanese exchange Coincheck is facing another class action lawsuit demanding cryptocurrency refunds and compensation for hack losses.
Since Coincheck partially resumed business activities following its recent hack, investors have flocked to withdraw millions from the exchange.
Japanese cryptocurrency exchange Coincheck has said it plans to allow users to start withdrawing local currency from their accounts next Tuesday.
Japan's Financial Services Agency is conducting an on-site inspection at Coincheck to see if it can afford to compensate victims of its recent hack.
The 58 billion yen worth of XEM tokens are on the move, according to the NEM Foundation, but no attempt to sell them on exchanges has been made.
Following last week's huge hack, Japan's Financial Services Agency has said Coincheck must report on the issues and its plan for improvements.
Though the Coincheck theft may superficially resemble 2014's Mt. Gox hack, the impact on cryptocurrencies is not nearly as significant.