Coincheck will be sued by traders. the main reason for this threat is that the exchange has frozen crypto-withdrawals for its clients.
The cryptocurrency exchange based in Japan has lost about 530 mln of UDS in a recent hacker attack. Now, the exchange doesn’t allow withdrawals to its clients. In a response to this measure, ten traders are going to file a complaint and to request the withdrawal of their crypto-money to wallets outside of the exchange.
Coincheck reacted with permission to make the withdrawals in yen, so, one claim will be settled already.
Let us remind that Coincheck announced on the next day after the attack that they will refund all lost costs to their clients. Based on the company statement, they were going to make a refund from the own company resources. Though now, the cryptoexchange is facing more problems connected with the attack. Japan`s Financial Service Agency is requesting to make a report on the hack and to change the security measures. The JFSA wants to make sure that similar hacks will not be repeated in the future.
It was discovered that the security measures taken by the exchange were too primitive to protect such sums of money. This is undermining the trust in Japan as a cryptocurrency hub, as well as in Japanese exchanges.