Limited Crypto Trading Activities Reopened on Coincheck
Monex Group, an internet broker based in Japan who bought the hacked crypto exchange platform Coincheck, just announced that the platform has reopened. Users can sign up for new accounts and engage in trading of some cryptos.
This is part of the most recent step of a slow, steady system reboot plan from Coincheck, in which Monex stated that users can now begin to deposit and purchase certain cryptos.
Users can now deposit 4 cryptos: BTC, ETC, LTC, and BCH. Options for purchase have extended again currently to the 3 main altcoins, with BTC continuing its presence in the intermediary duration that started when Monex had taken over the platform.
In the future, other cryptos will be available again on Coincheck, including ETH, XRP, XEM, LSK, and FCT, when all services are declared safe and ready for provision.
Relaunching is Compliant with FSA Regulations
For any user who chooses to create a new account on the exchange, Monex is forcing a stern KYC procedure that is aligned with rules put forth by the FSA in Japan.
Fiscal reports from the company show that Coincheck suffered a reduction of 66% in profits during the 3rd quarter of 2018.
Monex had bought Coincheck back in April for about $33.5 million, with a plan of relaunching the platform in complete alignment with the required rules and regulations.
Last January, an approximated amount valued at $534 million was stolen by hackers.