Coincheck Hit by a Rising Number of Lawsuits: Crypto Refunds are Demanded
The Japanese giant Coincheck passes from one hit to another. After a huge loss, the cryptocurrency exchange receives another shot from the Tokyo District Court.
On 26 January 2018, Coincheck has been attacked by hackers and lost $ 531 million owned in NEM tokens. This incident has attracted the attention of Financial Services Agency (FSA), which started to investigate all the crypto exchanges based in Japan. Thus, on 2 February 2018, FSA was present at the platform’s headquarters to clarify the situation.
Other 132 Investors Requests Remuneration
According to Japanese media Sankei, other 132 investors have submitted the lawsuit on 27 February 2018. They filed applications requesting from Coincheck another 228 million yen in cryptocurrency (almost $ 2.1 million).
The worsening of the process puts the crypto exchange in difficulty, because it has not yet managed to solve the previous process. We want to remember that the lawsuit was already filed by five customers and two corporations. According to Sankei, they were “seeking a refund of 12 virtual currencies themselves in the district court”.
“Due to the currency decline caused during the withdrawal of money, the payout of 13 kinds of currencies deposited by 132 persons, the payment of 100,000 yen for each other, The company filed additional complaints in search of the company and president Koichi Wada”, mentioned Sankei.
One of the victims of the Coincheck’s attack said that “At the very least we would like to sell the virtual currency and withdraw it in Japanese yen, but we will not even make it even, we complained from distrust of the coin check”.
Taking into account all the complaints filed at the Tokyo District Court, a spokesman for Coincheck replied that “we have not responded to the presence or absence of a trial or content”.
The Coincheck’s plans are still unclear. They are currently focusing on restoring the platform’s core activities, rebuilding the customer’s confidence, and financial resources as well.