Japan-based virtual currency exchange Coincheck said Tuesday it had refunded more than $440 million to customers following the hack of its systems, which was one of the largest thefts of its kind. The company said it used its own funds to reimburse about 46.6 billion yen ($440 million) to all 260,000 customers who lost their holdings of NEM, a leading cryptocurrency.
"Procedures have been completed with the accounts of all 260,000 customers," company spokesman Yosuke Imai told AFP. Thieves syphoned away 523 million units of the cryptocurrency from Coincheck - then valued at $547 million - during the January 26 hack, which exceeded the $480 million in bitcoin stolen in 2014 from another Japanese exchange, MtGox. The 2014 hack prompted Japan to issue new regulations, requiring exchanges to obtain a government licence, but Coincheck was allowed to continue operating while the Financial Services Agency was reviewing its application.
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