Coincheck to be sued over digital currency theft

Coincheck to be sued over digital currency theft

A group of lawyers says it is preparing a lawsuit against virtual currency exchange Coincheck in connection with the computer hack that stole a massive amount of digital currency last week.

The team of 5 lawyers says about 10 customers of the Tokyo-based company have consulted them. The lawyers say they will file a lawsuit at the Tokyo District Court as early as mid-February.

The lawyers say they will study details of the suit, including how the plaintiffs should be reimbursed. They add that they will allow other victims to join the suit.

Hackers gained illegal access to Coincheck's online platform on January 26th and stole more than 500 million dollars' worth of cryptocurrency called NEM.

Two days later, the exchange said it would use its own funds to reimburse about 260,000 customers who were affected. But it remains unknown when the reimbursement will take place.