News

Coincheck Gets Sued Again; 132 Customers Seek Restitution

Bad news for the Japanese based exchange Coincheck. Today, it was reported that 132 clients had filed a class action lawsuit for restitution of damages.
The history goes back to the NEM hack that the company faced last year, when the company lost about 530 million dollars. The company had to reimburse their clients for the losses. But now, customers are suing due to losses during the blockade of all accounts at the time of the hack.
Due to the volatility of the cryptocurrency market, the standard procedure of blocking operations when a hack occurs, caused that clients couldn’t withdraw or trade their funds at the time; having to cope with losses derived from the market movements.
“At the very least we would like to sell the virtual currency and withdraw it in Japanese yen, but even that will not make it even, we complain because of our distrust of Coincheck,” a suitor declared. Whatever it happens, this lawsuit will set a precedent in hack management procedures for exchanges.
 

Related posts
CoinbasecryptocurrencyCryptocurrency NewsFeaturedNews

How Coinbase is Driving the Crypto Market to the Richest Fintech Hands

Not every cryptocurrency proponent is a fan of the giant exchange platform Coinbase. But if sentiments are kept aside, it is crystal clear that the platform is leading the cryptocurrency market into some of the richest hands the industry will…
CelebritiescryptocurrencyCryptocurrency NewsdogecoinDOGEUSDNews

Caving To The Mania: Rapper Meek Mill Invests In Dogecoin As DOGE Continues To Smash Records

Dogecoin is becoming the digital currency of the stars. The cryptocurrency’s monstrous upsurge has attracted the attention of many A-list celebrities and business moguls, including singer Gene Simmons, rapper Snoop Dogg, adult entertainment star Mia Khalifa — and now American…
EthereumEthereum NewsETHUSDethusdtMarketsNews

Ethereum Likely to Surpass $10,000, Early Coinbase Backer Garry Tan Asserts

• A stakeholders gathering last week Saturday with the presence of representatives of the fortune-500 mega-conglomerate, Berkshire Hathaway (BH) witnessed many disparate remarks against the future of cryptocurrency. • Garry Tan, took to CNBC afterward, to assure calm stating that:…