Representatives of the Japanese currency exchange Coincheck, which became a victim of hacking in early 2018, accepted the offer to sell the platform to the online brokerage firm Monex Group.
Monex will become the owner of a controlling interest in Coincheck
According to the Nikkei Asian Review, after the implementation of the agreement, there will be changes in the Coincheck management team in order to return investor confidence.
As previously reported, Monex plans to pay Coincheck several billion yen (1 billion yen = $ 9.34 million) for the acquisition of a controlling stake in the company. The deal is currently at the final stage, and an official announcement may take place on Friday.
Monex Chief Operating Officer Toshihiko Katsuya will become the new president of the exchange, while the current president of Coincheck Koichiro Wada and operational director Yusuke Otsuka will resign.
Information has been officially confirmed
For the first time, the Japanese edition of the Nikkei reported on the upcoming agreement on Tuesday, citing rumours. Soon the information was confirmed by Monex.
In recent months, Coincheck has been subjected to checks by Japanese financial observers in connection with security problems. The acquisition of the exchange will allow it to receive new capital, which is necessary to recover losses incurred by customers. In addition, these funds will be useful in the light of several legal proceedings initiated against the exchange.