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.

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