Coincheck
Last changed 2026-11-02 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score did not change. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -6.4 |
| Incidents it suffered (e.g. hacks) | -6.4 |
| Problems around it, caused by others | -3.2 |
| Well known and widely used | +15 |
| Long-running | +10 |
| Sum | 74 |
Score: 74/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-11-02 · 4 of 11 claims confirmed · 2 need better sources · 5 disputed
anchored·2k1wqX…9AXcSummary
Coincheck is a Tokyo-based cryptocurrency exchange that suffered what was, at the time, the largest cryptocurrency hack in history on January 26, 2018, when approximately 523 million NEM (XEM) tokens valued at roughly $534 million were stolen from a low-security hot wallet. The exchange was operating without a Financial Services Agency (FSA) license at the time of the breach, had failed to implement standard multisignature security for NEM holdings, and received multiple business improvement orders from Japanese regulators in the aftermath. Coincheck was subsequently acquired by Monex Group in April 2018, obtained its FSA license in January 2019, and listed on the Nasdaq in December 2024 via a SPAC merger under the ticker CNCK.
Connected Entities
3 entities · 60 linked investigations- Coincheck→mentioned with→Mt. Gox(80%)
- Coincheck→mentioned with→Bitcoin(65%)
- Mt. Gox→mentioned with→Bitcoin(80%)
- Bitcoin→mentioned with→Mt. Gox(85%)
Connected Through
3 shared actors · 435 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- ♦Bitcointoken
- □Mt. Goxorganization
- ♦Coinchecktokenalso in
Timeline(15 events)
2012
Coincheck founded in Tokyo, Japan by Koichiro Wada and Yusuke Otsuka.
April 2017
Japan's Payment Services Act takes effect, requiring cryptocurrency exchanges to register with the FSA. Coincheck files an application but is permitted to continue operating while the application is pending.
25 January 2018
Attackers allegedly gain initial access to Coincheck's systems at approximately 17:57 UTC, believed to be via phishing emails that installed Mokes and Netwire malware on employee computers.
26 January 2018
At approximately 3:00 a.m. JST, 523 million NEM (XEM) tokens valued at approximately $534 million are transferred from Coincheck's hot wallet to attacker-controlled addresses. Coincheck detects the breach and halts NEM withdrawals.
27 January 2018
Coincheck publicly confirms the security breach and announces it will compensate affected users. The exchange suspends most trading and withdrawals.
29 January 2018
Japan's FSA issues its first business improvement order to Coincheck, directing the exchange to strengthen risk management and customer protection systems.
2 February 2018
FSA inspectors conduct an on-site raid of Coincheck's offices — described as the first such regulatory action against a Japanese cryptocurrency exchange.
7 March 2018
FSA issues a second business improvement order to Coincheck; separately issues suspension orders to two other Japanese exchanges and improvement orders to five more, reflecting industry-wide regulatory tightening.
9 March 2018
Coincheck begins compensating approximately 260,000 affected NEM holders, paying out approximately $411 million in total.
22 March 2018
The stolen NEM tokens are reportedly fully sold off by the attackers.
6 April 2018
Monex Group announces acquisition of 100% of Coincheck shares for approximately $33.5 million. The exchange becomes a wholly owned subsidiary.
11 January 2019
Japan's FSA approves Coincheck's registration as a licensed virtual currency exchange operator under the Payment Services Act, administered by the Kanto Financial Bureau.
June 2019
Asahi Shimbun reports that malware found on Coincheck employee computers — Mokes and Netwire — has known links to Russian threat actors, shifting earlier suspicion away from North Korea.
5 December 2024
Shareholders of Thunder Bridge Capital Partners IV approve the business combination with Coincheck Group N.V.
11 December 2024
Coincheck Group N.V. begins trading on the Nasdaq Global Market under tickers CNCK and CNCKW, becoming the first Japanese cryptocurrency exchange listed on a U.S. exchange. Market capitalization at listing was approximately $1.7 billion.
Decision Log
- slot 464344679 · hash 32C8xAABn9ituSahW5YWGkLQje6aNhyN93WaC88b4Y5L
- slot 464344674 · hash 6g3LhwmWsAQnPqqPNxDeJff1yFPbNba5oGBaLQ6tZ81P
- slot 455366146 · hash JBkQDTC8irRi7bDvWvGbjvj3as5rtHAAdZUAW9URytGy
- slot 422117259 · hash CTzWsWiTUtRTkiysFWsbvD71Bjyixwu5gNQHycHq27oH
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 21 of 27 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:55:01 AM
last updated: 11/2/2026, 3:30:17 AM
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