Coincheck To Allow Limited Trading Again
Japanese online broker Monex Group, which acquired the Coincheck crypto exchange, announced the renewal of the registration of new user accounts and start of limited trading, according to a press release.
Hackers attacked the Coincheck trading platform in January 2018, which resulted in a loss of more than $520 million. In April, the exchange was acquired by Monex, which began to work on its relaunch.
The resumption of full functioning of Coincheck involves gradual replenishment of new features. Apart from registration of new customers, Monex considered it possible to allow depositing and trading certain cryptocurrencies.
Starting October 30, customers can use the option of depositing four cryptocurrencies, including bitcoin, Ethereum Classic, Litecoin, and Bitcoin Cash. Purchase options were expanded to three digital assets, as bitcoin trading has remained available since Monex acquired Coincheck.
In accordance with the press release, addition of five more cryptocurrencies is possible in the future (ether, NEM, Lisk, Ripple, and Factom), but only if the company’s specialists are confident that they are fully ready for this step and that it is absolutely safe.
New clients of the crypto exchange will undergo the KYC procedure, as well as follow the requirements by the Financial Services Agency of Japan.
Earlier, Monex Group published a report which showed that the profit of the Coincheck crypto exchange fell by more than $5 million in Q3 2018.