Japanese FSA Inspects Recently-Hacked Coincheck Exchange

Japan’s Finance Minister Taro Aso has confirmed that authorities inspected the recently-hacked crypto exchange Coincheck for compliance Friday, Feb. 2, to “ensure protection of users.”

The country’s Financial Services Agency (FSA) carried out the move ahead of a deadline — set for later this month — for Coincheck to submit an account of the $530 mln hack that took place last Friday, Jan. 26.

Part of a package of remedial measures regulators are demanding of the exchange, the hack report should shed light on security failures that allegedly allowed hackers to steal half a billion in NEM from accounts within a matter of hours.

According to local journal The Japan Times, the FSA said today that it had ordered all cryptocurrency exchanges in the country to submit a report on their risk management systems. 

Coincheck and NEM meanwhile continue to battle with the hack itself — Cointelegraph reported Jan. 27 that Coincheck has promised to refund all stolen funds. Jan. 30, the NEM team reported that some of the stolen coins are being moved to different addresses.