In an official statement today, the Japanese online brokerage firm Monex Group, which acquired the hacked crypto exchange Coincheck, said the exchange has resumed operations today.
The company now allows users to sign up for new accounts. Users are also free to deposit and buy certain digital currencies. The platform had previously restricted all sales and purchases of every cryptocurrency other than Bitcoin (BTC).
“Coincheck has decided to restart its services step by step for which technical safety was confirmed with support from external experts… And now, here we announce that Coincheck has resumed “new account openings” and depositing and purchasing some cryptocurrencies,” the statement reads.
Services that have resumed today include new account registrations, depositing supported cryptocurrencies, and buying listed cryptocurrencies. The cryptocurrencies available for deposit include Bitcoin (BTC), Ethereum Classic (ETC), Bitcoin Cash (BCH) and Litecoin (LTC). The currencies available for purchase include Bitcoin Cash (BCH), Ethereum Classic (ETC) and Litecoin (LTC).
Coincheck was hit by a massive hack that saw cyber-criminals steal more than $500 million in cryptocurrency. The hack was thought to be one of the biggest hacks in history. The theft exceeded the $480M in BTC stolen from MtGox in 2014.
Stolen tokens were kept in a hot wallet
The exchange co-founder Yusuke Otsuka said millions of NEM tokens had disappeared. He said stolen coins were kept in a hot wallet – one connected to the internet rather than being secured offline. This resulted in Coincheck being criticized for its inability to implement necessary security measures to protect user funds.
This led to Coincheck halting all customer withdrawals. The exchange also stopped deposits into NEM tokens and restricted dealings in most other altcoins.
In April this year, Monex Group Inc announced in a statement that it would acquire Coincheck. The move was to allow the third largest brokerage by customer accounts in Japan to access the exchange’s trading platform and client base. The deal sent shares of the brokerage soaring to a 5-year high.