Almost a year after infamous hack, Coincheck reopens trading for XRP

26 Nov, 2018 | Updated: 11 Dec, 2018
by David Robb
News
Almost a year after infamous hack, Coincheck reopens trading for XRP

Japanese exchange Coincheck, which was hacked for a huge amount of money at the start of 2018, has recently started to reopen trading for some cryptos. The XRP token is the latest to be supported, according to an official statement.

Back in January, hackers succeeded in stealing XEM tokens worth $534 million from the trading platform. This was the largest exchange hack the crypto space had seen, and it happened at the height of the historic bull run. Japan's FSA subsequently decided to implement stricter security measures in order to protect funds.

Read more: Japan's FSA implements stricter registration procedures for crypto exchanges

After being inactive for almost 10 months in the wake of the hack, Monex Group, the company that owns the exchange, decided to reopen trading. Coincheck started offering services again earlier this month, initially for ETH, BTC, LTC and other coins.

Read more: Coincheck registrations reopen, withdrawals and deposits of 'some' cryptos

Trading pairs for the second-largest crypto token, XRP, will now be available on Coincheck. Users of the platform will also be able to trade Factom (FCT), deposit and withdraw Japanese yen, and residents of Japan will be able to open new accounts on the exchange.

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Read more about: Ripple (XRP) Hack

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