Coincheck Losses 66% in Q3 2018

Coincheck Losses 66% in Q3 2018

Monex Group Inc., who owns Coincheck, published their financial results for the period of 2nd quarter 2018 (Japan term; Q3 in US term) until 31 March 2019

The Japan-based cryptocurrency exchange platform reports a loss of 588 million yen ($5.3 million) pre-tax for the third quarter of the fiscal year. Their revenue for July until September plummeted 66%, from last year’s 942 million yen ($8.3 million) to 315 million yen ($2.8 million).

In April, Monex Group bought Coincheck for $40 million.

Coincheck Hack and Re-establishing Services

The exchange was hacked back in 26 January 2018, where XEM valued at $532 million was embezzled. Coincheck halted some of its services after the hack and re-paid affected users a total of $420 million.

Throughout the year, since the hack, the exchange is slowly reviving its services. Japan-based users can now open accounts, deposit, and withdraw BTC, ETC, LTC, and BCH.

Other services will be opened once it is deemed secure by outside technical experts.

NEM

XEM
Price
0.05097 USD 1.83%
0.00001276 BTC 1.83%
Volume, 24h
9,004,572 USD
-25.72%
Marketcap
458,289,770 USD
0.33%
Emission

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