World Bulletin / News Desk
Japanese authorities Thursday ordered two cryptocurrency exchanges to suspend operations as part of a clampdown following a massive hack that saw thieves steal hundreds of millions of dollars in virtual currency.
The agency alleged that FSHO "does not have a proper system to monitor trading and has not given training to its employees," while an employee of Bit Station "diverted digital currency deposited by clients for his personal use."
Immediate comments from the two exchanges were not available.
Authorities also ordered five other exchanges, including Coincheck, to improve their business practices.
Coincheck was already slapped with sanctions in January following the hack of its systems, which was one of the largest of its kind and resulted in the disappearance of NEM cryptocurrency worth $530 million
At a press conference, Coincheck said it would start reimbursing customers affected by the theft and aim to restart its operations from next week, adding that details would be announced later on the firm's website.
The company, whose offices were searched by authorities last month, has pledged to reimburse about $400 million to all 260,000 customers who lost their holdings of NEM, then the 10th biggest cryptocurrency by market capitalisation.
Trump administration makes request following backlash over its immigration policy
President says he will take ‘preemptive’ action to halt the actions that have drawn widespread criticism
Al-Sadr’s Sairoon bloc fails to form governing coalition with Al-Wataniya, National Wisdom Movement
Top Trump advisers arrive in Cairo after earlier stops in Jordan, Saudi Arabia
Official results of May 12 elections have been dogged by controversy
Muhammed Ebu Dekka was wounded by Israeli gunfire on May 14, says Palestinian Health Ministry
Protestors march from Bryant Park to United Nations headquarters
U.S. withdrew from UN rights council, accusing it of being hypocritical and biased against Israel
New rule is latest effort by Trump to dismantle former President Barack Obama's Affordable Care Act
Foreigners buy over 2,400 houses, marking a 36.1 percent rise year-on-year, according to official report
Over 1.4 million Turkish expats have cast their votes
Antonio Guterres 'would have much preferred for the United States to remain in the Human Rights Council,' spokesman says
Long sentence would set ‘strong precedent’ against Islamophobia
"Officials do not want to report these crimes," Trump says without presenting any evidence
Israeli national security adviser meets Russian counterpart in Moscow to discuss Syrian developments