Japanese cryptocurrency exchanges in the spotlight after $500 million hack

Key Points
  • Japanese cyrptocurrency exchanges have been ordered to report on their system risk management following Coincheck's massive hack.

Japan's financial regulator said on Friday it had ordered all cyrptocurrency exchanges to submit a report on their system risk management, following the hacking of over half a billion dollars of digital money from Coincheck.

Courtesy: Coincheck

The regulator, the Financial Services Agency, said the order was given to 31 exchanges excluding Coincheck, which had already been ordered to do so.