Cryptocurrency exchange Coincheck said Tuesday it it used its own funds to reimburse more than $440 million to customers following the recent hack of its systems, Japan Times reported.
“Procedures have been completed with the accounts of all 260,000 customers,” company spokesman Yosuke Imai said.
According to The Wall Street Journal, customers were compensated at a rate of 88.54 Yen per NEM token which is higher than the current trading price but lower than its 110 Yen value at the time of the heist (January 26).
Coincheck, the Tokyo based cryptocurrency exchange suffered the second largest heist in history losing 523 million NEM tokens in January.
Yusuke Otsuka, Coincheck’s chief operating officer, said last week that the company’s system was breached after several staff members opened emails containing malware. The firm had failed to upgrade its systems to keep up with the rapid expansion of the cryptocurrency market, he said.