The Japanese trading coincheck is currently beginning with the process of compensating the known victims who are said to have lost huge amounts of money estimated to be around 530 million which was stolen from the platform earlier this year.

According to a blog dated on the 12th of march this year suggested that they will or may end up refunding the users at the rate of 89 Japanese yen to each stolen that is not different from the amount it had earlier on stated  in its compensation plan.

This money will be directly credited on the accounts of the customers purported to have held the token to its close on the 26th of January this year japan time.

In a report that had earlier been given out, there were revelations that the first thing the coincheck entity did was to confess that indeed there was hacking on the same said day and that around 523 million tokens had been taken away during the incident. Based on its plan to compensate the users they highly depended and served the company laid out a combined 420 million payout to them.

The most recent update comes days after the company had held a press conference in which the executive officer and his assistant announced that the process of compensating the victims will start this week.

The Japanese financial registrar and the central bank manager were urged to oversee the compensation activity.

Restarting of withdrawals as well as to start the trading of several different cryptocurrencies including etc. and xrp, this was state by the company.

The company also promised to keep tight the security operation so as to help in curbing another evil practice that may be tried by the hackers. More and high system improvements are bound to take place inside and outside the company premises.

The leader of the blockchain organization was quoted on a major television station saying that the outlet is trying to improve on its standards of service delivery and that coindesk is an independent entity.

Members were urged not to fear external invasion and instead concentrate on their minded works and leave alone the other factors pushing.


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