April 6, 2018 / 2:56 AM / a year ago

Japanese online brokerage to buy Coincheck for 3.6 bln yen

TOKYO, April 6 (Reuters) - Japanese online brokerage firm Monex Group Inc said on Friday it would buy hacked cryptocurrency exchange Coincheck Inc, acquiring full ownership of the Tokyo-based firm for 3.6 billion yen ($33.59 million).

Monex, Japan’s No.3 online brokerage by customer accounts, said in a statement it would execute the deal on April 16. Coincheck’s CEO and COO will resign from the board of directors and become the company’s executive directors, Monex said.

Coincheck was hit by a daring $530 million theft of digital money earlier this year, prompting penalties from Japan’s financial regulators for lax security protocols. ($1 = 107.1800 yen) (Reporting by Thomas Wilson Editing by Shri Navaratnam)

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