Coincheck to Partially Reimburse Customers, and NEM Won’t Fork

in coincheck •  7 years ago 

Coincheck has also said that intends to partially reimburse 260,000 customers who lost funds as a result of the hack. In all, the exchange will pay out 46.3 billion yen at a rate of 88.549 yen per XEM, which is a roughly 20 percent decrease from the estimated 58 billion yen worth of funds stolen. However, the company has provided a detailed payment plan for this compensation.

Notably, although the hack appears to have been isolated to Coincheck’s NEM wallet, the NEM Foundation has stated that it will not conduct a hard fork to recover the stolen funds. Rather, it has created an automated system that will follow and “tag” the stolen XEM tokens so that exchanges and other currency converters will be able to identify them and refuse service to the hacker.

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