CoinCheck

 



We would like to show you a description here but the site won’t allow us. Coincheck trade volume and market listings. Coincheck 仮想通貨取引における重要事項について. Coincheck is the brainchild of Yusuke Otsuka and Keisuke Wada who conceived the Coincheck idea as early as 2012 and saw it brought to life exactly 2 years after in August 2014. The founders are currently directors in the company with Otsuka acting as the COO and Wada the CEO. Trading value No.1※1 The number of app users No.1※2※1 No.1 Bitcoin trade volume in Japan! According to jpbitcoin.com (2017 yearly BTC spot trade volume) ※2 According to the research conducted by App Ape in August-October 2017 (Sample size： 50,000 users).

  1. Coincheckup
  2. Coincheck Stock Price

Important notice about cryptocurrency trading

  • Virtual currency is not a national currency in or outside of Japan.
  • Virtual currency handled by the Company is a “decentralized virtual currency” that is traded and issued on the Internet, and the value of a virtual currency is not guaranteed by neither a particular nation nor other people.
  • In Virtual Currency Trading, there is a risk that customers will incur losses due to value fluctuations of the virtual currency being traded. Further, in leveraged trading and margin trading, since the transaction amount is larger than the amount of virtual currency or margin that a customer deposits with the Company, there is a risk that customers will incur losses greater than the amount of virtual currency or margin.
  • In Virtual Currency Trading, there is a possibility that customers may not be able to place trades as they intend due to the fact that the difference between sell and buy prices of virtual currency will spread and orders may be suspended temporarily in the event of sudden market fluctuations, reduced liquidity, or other such situations.
  • Processing of transactions may be delayed, or placement, execution, confirmation and cancellation of orders may be invalidated due to a failure in the transaction system required for Virtual Currency Trading or the communication lines connecting the Company and customers.
  • There is a risk that virtual currency will be lost in whole or in part due to a cyber-attack or other such causes.
  • There is a risk that the Company will not be able to continue its business if the external environment changes (including tightening of regulations for virtual currencies), the Company’s financial condition deteriorates, or any service provider falls into bankruptcy. If the Company falls into bankruptcy, the Company will not be able to return assets to customers, and there is a possibility that customers will incur losses.
  • The Company may receive fiat or cryptocurrency compensation directly or indirectly from the creators of relevant currencies or other interested parties when listing new currencies.
  • Assets deposited by customers are subject to the obligation to manage separately from the Company’s own assets, and they will be managed separately from the Company’s own money and virtual currency as follows. However, margin used on leveraged trading is not a subject to segregated management of customers assets. For more information, please refer to “11. Separation management”.
    • 1) Money:
    Customer’s trading account at Resona Bank, Ltd., SBI Sumishin Net Bank, Ltd., GMO Aozora Net Bank, Ltd., or ORIX Bank Corporation.
    2) Virtual Currency:
    Virtual currency is stored in a cold wallet disconnected from the Internet or other external networks, or in a hot wallet connected to the Internet or other external networks, in such a manner that each customer’s amount is immediately recognizable as data.
  • Transaction fees and other fees are required for Virtual Currency Trading. Please see “11. Fees, etc.” for details.
Coincheck
FoundedTokyo, Japan (August 2014)
HeadquartersTokyo, Japan
Area servedJapan and some other countries
OwnerMonex
Founder(s)Koichiro Wada
Yusuke Otsuka
ProductsBitcoinexchange and wallet service
URLOfficial website

Coincheck is a bitcoin wallet and exchange service headquartered in Tokyo, Japan, founded by Koichiro Wada and Yusuke Otsuka. It operates exchanges between bitcoin, ether and fiat currencies in Japan, and bitcoin transactions and storage in some countries.[1][2] In April 2018, Coincheck was acquired by Monex Group for 3.6 billion yen.[3]

History[edit]

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Coincheck started in August 2014 and is operated by Coincheck, inc. (previously ResuPress, inc) (founded in 2012). There were then more than 2,200 merchants using their bitcoin payment solution, just in Japan.[4] Coincheck is a member of JBA (Japan Blockchain Association)[5] and is actively helping to build the Japanese bitcoin community's usage standards with the government.

Coincheck partnered with SEKAI to support Chinese, Hong Kong, and Taiwan investors to buy Japanese real estate with bitcoin.[6]

2018 hacking incident[edit]

Coincheckup

In January 2018, Coincheck was hacked and approximately 500 million NEM tokens ($530 million) were stolen.[7][8] The currency was transferred through a total of nineteen accounts, one of which was found to have no connection with the hacker.[9]

The hack led two of Japan's crypto-currency trade groups to merge into a new self-regulatory organization.[10] The Financial Services Agency took administrative action by ordering Coincheck to improve its security practices, but did not order the exchange to shut down out of a concern for the protection of its users.[11] Coincheck initially announced that it may not be able to compensate all users affected by the hack,[12] but then announced that it would repay all 260,000 users affected in Japanese yen using its own capital.[13]

Coincheck Stock Price

References[edit]

  1. ^'大塚雄介 | ブロックチェーンでどんな未来をつくれるかを、ずっと考えている « INNOVATION INSIGHTS'. INNOVATION INSIGHTS (in Japanese). Retrieved 2016-03-22.
  2. ^Sugimoto, Jun. 'ビットコイントレーダー向けのダッシュボード「coincheck tradeview」、レジュプレスが提供'. TechCrunch Japan. Retrieved 2016-03-22.
  3. ^Wilson, Thomas. 'Japan's Monex to buy Coincheck for $34 million, eyes future IPO'. U.S. Retrieved 2018-04-06.
  4. ^'ビットコイン決済の導入社数が1000社を突破--「coincheck」のレジュプレス'. CNET Japan (in Japanese). Retrieved 2016-03-22.
  5. ^JBA (Japan Blockchain Association)
  6. ^Okuma, Nozomi. 'coincheckが国際間の不動産売買にもビットコイン決済を提供開始'. TechCrunch Japan. Retrieved 2016-03-22.
  7. ^Uranaka, Taiga; Wilson, Thomas (January 28, 2018). 'Japan raps Coincheck, orders broader checks after $530 million cryptocurrency theft'. Reuters. Retrieved June 5, 2018.
  8. ^'£280 million Goes Missing From Japanese Crypto Exchange Coincheck'. Gizmodo. 28 January 2018. Retrieved 29 January 2018.
  9. ^'Cryptocurrency hacked from Coincheck sent to 20 accounts'. The Japan News by the Yomiuri Shimbun. 2018-01-31. Archived from the original on 2018-02-01. Retrieved 2018-02-01.
  10. ^'Report: Japanese Crypto Exchanges Unite to Form Self-Regulatory Group'. Yahoo Finance. February 20, 2018.
  11. ^Kimura, Takuya. 'NEM流出事件でコインチェックに業務改善命令、金融庁は「9月までのBSは把握済み」 | TechCrunch Japan'. TechCrunch Japan (in Japanese). Retrieved 2018-02-01.
  12. ^'Coincheck possibly unable to reimburse customers after theft'. Kyodo News+. 2018-01-27. Retrieved 2018-02-01.
  13. ^Nakamura, Yuji (2018-01-27). 'Coincheck to Repay Users Who Lost Money in $400 Million Hack'. Bloomberg.com. Retrieved 2018-02-01.
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