Hacked Exchange Coincheck To Be Sued By Traders For Freezing Funds

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Hacked cryptocurrency trading service Coincheck is now facing lawsuits from 10 of the cryptocurrency traders because of the previous freezing of crypto withdrawals.

According to the plaintiffs’ lawyer, Hiromu Miochizuki, the lawsuit is to compel Coincheck to allow the traders to withdraw their crypto into wallets outside of their system. It was also indicated that there will be another lawsuit forthcoming, this time for damages over the hack that took place. Last February 12, Coincheck had lifted the freeze on the cryptocurrency assets, which then consequently resulted into the settling of one of the claims.

Following the Coincheck hack, wherein they lost as much as $530 million in NEM last month, all Japanese crypto exchanges must now submit a risk management report to the FSA Japan.

 

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