A year after a notorious theft, the Bitcoin [BTC] wallet and exchange service provider, Coincheck seems to have gotten back on track. A report released by its parent organization, Monex Group, for the third quarter of the fiscal year 2019, has revealed that Coincheck has managed to score an optimistic trading volume, shortly after resuming its operations.
The exchange restarted its new account openings, and other related services, after a brief pause, for all tradable digital assets by the end of 2018 and officially registered as a crypto exchange on January 11 earlier this year.
Coincheck, on its official Twitter handle, posted:
“Notice concerning Registration of virtual currency exchange. Coin Check Co., Ltd. has completed registration with the Kanto Financial Bureau as a virtual currency exchange agent based on the Act on Funds settlement on January 11, 2019.”
As of December 2018, the number of Coincheck app downloaded catapulted to 1.73 million, out of which 0.9 million users identities have been confirmed.
The paper released by the Monex Group Inc. for the financial results for the fiscal year ending March 32, 2019, stated:
“Cryptocurrency trading business will be a key to enhance cross segment interaction, leading to expand business capability and create new customers.”
A loss of $5.39 million was reported by Coincheck in the previous quarter, however, the losses curbed to $2.97 million in the latest quarter. Revenue generated in the latest quarter also soared to $4.59 million from the previous quarter’s $2.75 million.
The document further expounded a thriving customer base where the millennials are the majority.
Coincheck underwent a major hack on January 2018 where nearly $534 million worth of NEM [XEM] tokens were stolen. Consequently, a shut down of its operations was followed by the acquisition of the exchange by Monex for $34 million in April last year. Monex had previously affirmed that certain Coincheck activities have been stalled and instead, it has established an all-new Blockchain Lab [BCLab] to provide Bitcoin and cryptocurrency solutions to various other companies.
The acquisition has been a major relief for the exchange, as Monex has not only taken an initiative to turn the previously dubious course of the company in the path of profitability but have also reworked the entire security feature of Coincheck and managed to refund the users who were victims of the hack even though no money was recovered after the grand theft.