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April 6, 2018

Monex Group Inc, Japan’s No.3 online brokerage firm, will buy the hacked cryptocurrency exchange Coincheck Inc, acquiring full ownership of the Tokyo-based firm for 3.6 billion yen ($33.59 million), Reuters reported.

The deal is expected to be agreed on April 16, Monex said. Coincheck’s CEO and COO will then resign from the board of directors and become the company’s executive directors.

The deal will allow Monex to access Coincheck's trading platform and customer base.

Shares of Monex spiked 20 percent following the announcement.

Coincheck was hit by a $530 million theft of digital money earlier this year, prompting penalties from Japan’s financial regulators for lax security protocols.

By Siranush Ghazanchyan

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