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Japan’s Coincheck posts $433 million writedown in year to March

Japan’s Coincheck posts $433 million writedown in year to March

April 27, 2018 6:52 am,

Japanese cryptocurrency exchange Coincheck Inc recorded 47.3 billion yen (USD 432.56 million) for the year ended March, its parent Monex Group Inc.

The extraordinary loss dragged it’s estimated pretax profit to 6.3 billion yen on sales of 62.6 billion yen, Monex said in a statement, without giving further details of the loss.The results were the first glimpse of Coincheck’s earnings after the exchange was hit by a massive theft of digital money earlier this year, and offer a rare look at the finances of a cryptocurrency exchange.

In the last month, repaid about 46 billion yen (USD 431.6 million) to investors who lost assets in the USD 530 million heist, one of the biggest of digital money globally.

The present value of coincheck is ($1 = 109.3500 yen)

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