Coincheck resumes services for Ripple and Factom

Platform returns to full capacity 10 months after NEM theft

Coincheck resumes services for Ripple and Factom

Japanese cryptocurrency exchange Coincheck has resumed depositing and purchasing services for the Ripple (XRP) and factom (FCT) tokens.

The move, which was announced earlier today by Coincheck’s parent company Monex Group, marks the full reinstatement of trading services for all cryptocurrencies that were listed on the platform as of late January, when the exchange was targeted by hackers that managed to steal over $500 million worth of NEM (XEM) tokens. Coincheck was forced to suspend its operations in the wake of the hack and was acquired in April by Monex, which spent next several months rebuilding the business and implementing improvements required by Japanese regulators. Last month Coincheck finally started accepting new Japanese users again and in mid-November it resumed NEM trading on its platform. Today’s reinstatement of XRP and FCT means that it users now have access to Coincheck’s full portfolio of cryptocurrency offerings, which also includes Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum Classic (ETC) and Lisk (LSK).

Today’s announcement also touched upon Monex’s efforts to comply with regulatory requirements.

“Coincheck had suspended certain services in order to protect the integrity of customers' assets and to investigate the cause of the breach to its system on January 26, 2018,” the company wrote. “Since then, Coincheck had been working to improve its management structure and internal control by carrying out business improvement plans. Up to date, Coincheck has been steadily resuming as each service’s technical safety is confirmed through the supports of external experts,” it added.

Last month Monex reported that Coincheck had seen a big drop in quarterly revenue during the three-month period to September 30. The results showed that during the September quarter, Coincheck generated revenue of 315 million yen (approximately $2.8 million), representing 66% drop from the previous three-month period.

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