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Coincheck to Repay Users Who Lost Money in $400 Million Hack

  • Users will receive 88.549 yen for each coin that was stolen
  • Japanese exchange will compensate clients using internal funds
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Japanese Crypto-Exchange Hacked for Almost $500M

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Japanese cryptocurrency exchange Coincheck Inc. said it will use its own capital to reimburse customers who lost money in Friday’s $400 million theft.

The Tokyo-based company will repay all 260,000 users impacted by the theft of NEM coins, at a rate of 88.549 yen (82 U.S. cents) for each coin, according to a statement posted on its website after midnight local time on Sunday. A total of 523 million coins were stolen, it said.