Japans regulators probing Coincheck’s compensation claims on hack

Japan's financial watchdog is probing into crypto exchange Coincheck's finances through an on-site inspection, following its notable $530 mln hack, particularly, inspectors from the Financial Services Agency (FSA) arrived in Coincheck's office and examined whether the company has the financial capability to fulfill its promise that it would compensate users who lost funds in the major breach.
Coincheck currently is one of the biggest cryptocurrency exchanges in Japan. Following the hack report, company has promised to issue compensation at a rate of $0.81 for each stolen token, which would amount to a total payout of $420 million. This promise has raised questions from FSA.

According to the report by Reuters, the FSA said on Friday that “it has already ordered Coincheck to fix its security loophole, which was also one reason FSA has yet to approve Coincheck as an exchange”.

Subscribe to be in touch: @cryptocoingalaxy
Please Upvote and support our work)
P.S. Next links its referral programs, so if you , by clicking on it, will make order of Ledger or Trade on Binance , our team will make some $ , and this money we will spend to improve our content and make posting more often)
Best Cold Storage for Bitcoin and Altcoins «Ledger Nano S» - https://www.ledgerwallet.com/r/b0ad
Buy and Trade Bitcoin and Altcoins. Top 1 Exchange! - https://www.binance.com/?ref=16702916
Here you can buy almost all Altcoins, one of the best Exchanges: https://www.kucoin.com/#/?r=7Jhxgr