In a recent report by Japanese media outlet, Sankei, it was stated that 132 cryptocurrency investors filed a lawsuit again CoinCheck, the Tokyo based Bitcoin Exchange.
“Five customers and two corporations already filed a lawsuit seeking a refund of 12 virtual currencies themselves in the district court. The defense team tabled the payout of 13 kinds of currencies deposited by 132 persons, the payment of 100,000 yen each”
Japanese cryptocurrency exchange Coincheck announced on Friday, Jan. 26, that it is suspending all withdrawals after a Ripple payment worth $123mln left its wallet as well as a transaction of 500 million NEM (XEM) worth around $600 million at the time. The exchange has promised to repay all of its customers.
Unfortunately, the hacking of exchanges will continue as the value of cryptocurrency increases.
It is best practice to use exchanges for what they are intended… buying and selling of cryptocurrency, NOT storing of cryptocurrency indefinitely.
Learn more about how to store your cryptocurrency safely – How to store Bitcoin
Read more:- How to hack Bitcoin
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