Coincheck Crypto Exchange Posts $490 Mln Profit, On Par With Japan’s Top Stock Exchange

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Japanese crypto exchange Coincheck earned an estimated ¥53.2 bln (approximately $490 mln) in the ten months between April 2017 and January 2018, the month of its unprecedented hack, according to data from parent company Monex Group Inc., Bloomberg reports April 27. By comparison, Bloomberg notes, Japan Exchange Group, the operator of Japan’s leading stock and derivatives markets, earned ¥71.8 bln ($657 mln) in the fiscal year ending in March 2018, putting the traditional exchange’s profits roughly on par with those of Coincheck. Coincheck was acquired by Money Group Inc. as a wholly owned subsidiary on April 16, 2018, when Coincheck decided to rehaul its shareholder composition and management after $532 mln worth of NEM was stolen from its wallets in January 2018.More Info

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