Breaking: Monex Will Buy Hacked Cryptocurrency Exchange Coincheck for $33.5 Million

Excellent transaction!

Major Japanese online brokerage has confirmed its foray into the cryptocurrency sector by announcing its acquisition of Tokyo-based exchange Coincheck for ¥3.6 billion ($33.5 million).

In an announcement on Friday, Monex confirmed it will acquire 100% of all 1,775,267 shares at a cost of ¥3,600 million yen in a share acquisition agreement signed today. The transfer of shares will go through on April 26 with Coincheck founder and chief executive Koichiro Wada and chief operating officer Yusuke Otsuka to step down from management on the same day after taking responsibility for the $530 million theft of NEM tokens in January.