Customers Sue Coincheck after Loss Caused by Hack

A total of 132 customers have decided to file a class action lawsuit against cryptocurrency exchange Coincheck. The lawsuit was filed after Coincheck suffered a massive hack in January, 2018. Japanese media reported that the 132 customers have filed a class action lawsuit.

Customers seek around $2 million in losses

The hack allegedly led to the loss of $530 million worth of cryptocurrencies. The customers commonly filed their claims against Coincheck in the Tokyo District Court. Japanese media reported that Coincheck has previously claimed that it will pay back a total of 260,000 customers at a value of 81 US cents per token. Furthermore, the company reportedly created a refund plan which it submitted to the Japanese Financial Services Agency.

The customers who sued Coincheck want the company to quickly restitute their money. The lawsuit cites the fact that the customers are in the impossibility of withdrawing their funds. The customers want a mix of 13 types of cryptocurrencies, as well as Japanese yen.

This is actually not the first such lawsuit that was filed against Coincheck. A total of seven investors have filed a similar class action lawsuit on February 15.

However, at that time the plaintiffs sought the company to pay "annualized interest of 5 percent on the value of the digital coins from notification of the claim." Reuters reported back then that the lawsuit was also filed in Tokyo District Court.

Coincheck has not confirmed for now that a new lawsuit has been filed against the company. The company has not provided too many details on what the refund plan submitted to the Japanese Financial Services Agency includes. Of course, some speculation emerged on this subject, including that the company might have found a partner to help. Nothing has been confirmed for the moment.