Shares in Monex Group closed near a 10-year high today after the Japanese online brokerage firm said it would pay $33.5m (¥3.6bn) for cryptocurrency exchange Coincheck who earlier this year fell victim to one of history’s most daring digital heists.
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Monex buys cryptocurrency exchange Coincheck for ¥3.6bn
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Within hours of the Monex announcement, Japan’s Financial Services Agency placed immediate, two-month business suspensions on two local cryptocurrency exchanges, Eternal Link and FSHO — the former for misuse of customer funds and the latter for failure to comply with an earlier business improvement order. A third exchange, Last Roots, was issued with a business improvement order for failure to demonstrate sufficient countermeasures against money laundering.
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