Japan: Crypto Exchange Coincheck Resumes NEM Trading Almost 10 Months After Major Hack

Recently re-opened Japanese crypto exchange Coincheck has announced it has resumed NEM crypto token trading after a restructuring of its platform by external "Security experts," South Korean news outlet FNNews reports Nov. 13.

In January of this year, Coincheck suffered an industry record-breaking hack when $534 million worth of NEM was stolen from its wallets.

"This latest development from Coincheck reveals the exchange has"joined the Japan Security Association and is "Ready to renovate its image." Alongside NEM trades, the platform has also opened support for Ethereum and Lisk.

Coincheck is quoted as saying that "Technological safety has been verified through cooperation with external experts on NEM, Ethereum, and Lisk handling."

As FNNews notes, Coincheck is a member of both the Japan Network Security Association and Japan's Virtual Currency Exchange Association.

In the wake of January's hack, Coincheck received a business improvement order from Japan's financial watchdog, the Financial Services Agency, Mar. 8.

In April, Coincheck was acquired by Japanese internet broker Monex Group Inc. as part of a major rehaul of its shareholder composition and management.

Monex's fiscal results published late Oct. revealed that Coincheck had seen a 66 percent decline in revenue for Q3 2018.

On Oct. 30, Monex announced it had reopened new account signups and limited trading on Coincheck, beginning with purchases and deposits of Bitcoin, Ethereum Classic, Litecoin and Bitcoin Cash.

In the 24 hours since Coincheck's announcement, NEM has soared a strong 6.18 percent, and is trading at $0.11 to press time, according to CoinMarketCap.