Bitcoin chaos in Japan as Coincheck freezes all Withdrawals

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 sudden announcement sent a shockwave through the trading community and Cryptocurrencies slumped after one of Japan’s biggest Bitcoin venues halted client withdrawals in a country that’s still wary of crypto exchanges four years after the collapse of Mt. Gox.


No Explanation:

Coincheck Inc., based in Tokyo, said in a series of tweets that it had suspended all withdrawals, halted trading in all tokens except Bitcoin and stopped deposits into NEM coins, also affected by the $723million hack.


According to Bloomberg, when reached by phone, an exchange official refused further details and didn’t respond to a subsequent emailed request for comment.


After that, all calls to Coincheck went straight to voicemail.


Worrying indeed.


Full Story on Bloomberg: –



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