A group of cryptocurrency investors will be filing a lawsuit against Japanese exchange Coincheck Inc. over the hacking incident where $530 million in NEM tokens had been stolen.

The group, composed of ten traders, will be filing the claim at the Tokyo District Court this Thursday. The group’s lawyer, Hiromu Mochizuki, said that they are requesting Coincheck to allow withdrawals to wallets outside of the exchange. The exchange had suspended all withdrawals after the hacking incident, and only recently resumed yen withdrawals last Tuesday. However, restrictions on cryptocurrency withdrawals are still in place.

It is said that the Coincheck incident has renewed attention on the risks of cryptocurrency trading and the need for an effective framework for overseeing exchanges.

Source: Reuters


Leave a Comment

Your email address will not be published. Required fields are marked *