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Coincheck is a bitcoin wallet and exchange service headquartered in Tokyo, Japan, founded by Koichiro Wada and Yusuke Otsuka. It operates exchanges between bitcoin, ether and fiat currencies in Japan, and bitcoin transactions and storage in some countries.[1][2][3] In April 2018, Coincheck was acquired by Monex Group for 3.6 billion yen.[4]

LOGO 20170131.png
FoundedTokyo, Japan (August 2014 (2014-08))
HeadquartersTokyo, Japan
Area servedJapan and some other countries
Founder(s)Koichiro Wada
Yusuke Otsuka
ProductsBitcoin exchange and wallet service
WebsiteOfficial website


Coincheck started in August 2014 and is operated by Coincheck, inc. (previously ResuPress, inc) (founded in 2012). As of August 2016, the exchange had over $160 million transactions per month.[5][6][7] There were then more than 2,200 merchants using their bitcoin payment solution, just in Japan.[8] Coincheck is a member of JBA (Japan Blockchain Association)[9] and is actively helping to build the Japanese bitcoin community's usage standards with the government.

In March 2016, the entertainment company with a user-base of more than 19 million decided to use Coincheck's bitcoin payment processing solution.[10] Coincheck also partnered with SEKAI to support Chinese, Hong Kong, and Taiwan investors to buy Japanese real estate with bitcoin.[11][12] The company also supports the buying and selling of ether,[13] DAO,[14][15] LISK,[16][17] and Ethereum Classic.[18]

2018 hacking incidentEdit

In January 2018, Coincheck was hacked and approximately 500 million NEM tokens ($530 million) were stolen.[19][20] The currency was transferred through a total of nineteen accounts, one of which was found to have no connection with the hacker.[21]

The hack led two of Japan's crypto-currency trade groups to merge into a new self-regulatory organization.[22] The Financial Services Agency took administrative action by ordering Coincheck to improve its security practices,[23] but did not order the exchange to shut down out of a concern for the protection of its users.[24] Coincheck initially announced that it may not be able to compensate all users affected by the hack,[25] but then announced that it would repay all 260,000 users affected in Japanese yen using its own capital.[26]

The hack only involved NEM. Because the security breach was caused by the lack of strong security measures of Coincheck, the NEM development team refused to conduct a hard fork. Instead NEM is creating an automated tagging system. This automated system will follow the money and tag any account that receives tainted money.[22]


  1. ^ "大塚雄介 | ブロックチェーンでどんな未来をつくれるかを、ずっと考えている « INNOVATION INSIGHTS". INNOVATION INSIGHTS (in Japanese). Retrieved 2016-03-22.
  2. ^ Sugimoto, Jun. "ビットコイントレーダー向けのダッシュボード「coincheck tradeview」、レジュプレスが提供". TechCrunch Japan. Retrieved 2016-03-22.
  3. ^ "Japan's Coincheck Launches Consumer-Focused Bitcoin Exchange". CoinDesk. Retrieved 2016-03-22.
  4. ^ Wilson, Thomas. "Japan's Monex to buy Coincheck for $34 million, eyes future IPO". U.S. Retrieved 2018-04-06.
  5. ^ Suberg, William. "Coincheck: Japan 'Treating BTC as Currency' - Bitcoin News". Bitcoin News. Retrieved 2016-03-22.
  6. ^ "Japanese Exchange Doing 3 Billion Yen a Month » Brave New Coin". Retrieved 2016-03-22.
  7. ^ "Interview with Kaga Kawabata of Coincheck- Bitcoin Exchange Japan". Retrieved 2016-03-22.
  8. ^ "ビットコイン決済の導入社数が1000社を突破--「coincheck」のレジュプレス". CNET Japan (in Japanese). Retrieved 2016-03-22.
  9. ^ JBA (Japan Blockchain Association)
  10. ^ Suberg, William. "Japanese Entertainment Giant DMM Accepts Bitcoin - Bitcoin News". Bitcoin News. Retrieved 2016-03-22.
  11. ^ Okuma, Nozomi. "coincheckが国際間の不動産売買にもビットコイン決済を提供開始". TechCrunch Japan. Retrieved 2016-03-22.
  12. ^ "马桶盖已经out了,Coincheck教你用比特币在日本买房子_巴比特_比特币新闻资讯_比特币今日价格". Retrieved 2016-03-22.
  13. ^ Suberg, William. "Coincheck Integrates Ether Amid Continued Optimism - Bitcoin News". Bitcoin News. Retrieved 2016-03-22.
  14. ^ "Coincheck Lets Users Buy The DAO Tokens With JPY". Retrieved 2016-08-10.
  15. ^ "DAO Makes Its Way Into Japan". Cointelegraph. 1 June 2016.
  16. ^ "Coincheck Becomes First Japanese Exchange To Support Lisk". Retrieved 2016-08-10.
  17. ^ "Japanese bitcoin exchange, coincheck add new cryptocurrency, LISK : JFToday" (in Japanese). Retrieved 2016-08-10.
  18. ^ "New Feature: Buy and sell Ethereum Classic | coincheck". Retrieved 2016-08-10.
  19. ^ Uranaka, Taiga; Wilson, Thomas (January 28, 2018). "Japan raps Coincheck, orders broader checks after $530 million cryptocurrency theft". Reuters. Retrieved June 5, 2018.
  20. ^ "£280 million Goes Missing From Japanese Crypto Exchange Coincheck". Gizmodo. 28 January 2018. Retrieved 29 January 2018.
  21. ^ "Cryptocurrency hacked from Coincheck sent to 20 accounts". The Japan News by the Yomiuri Shimbun. 2018-01-31. Retrieved 2018-02-01.
  22. ^ a b "$530 Mln in XEM Stolen From Coincheck Can Be Traced, NEM Team Confirms". Cointelegraph. 26 January 2017.
  23. ^ "Japan's Financial Regulator Responds To Coincheck US$530M Hack". Coinjournal. 2018-01-29. Retrieved 2018-02-01.
  24. ^ Kimura, Takuya. "NEM流出事件でコインチェックに業務改善命令、金融庁は「9月までのBSは把握済み」 | TechCrunch Japan". TechCrunch Japan (in Japanese). Retrieved 2018-02-01.
  25. ^ "Coincheck possibly unable to reimburse customers after theft". Kyodo News+. 2018-01-27. Retrieved 2018-02-01.
  26. ^ Nakamura, Yuji (2018-01-27). "Coincheck to Repay Users Who Lost Money in $400 Million Hack". Retrieved 2018-02-01.