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Monex to focus on improving Coincheck

Jiji Press TOKYO (Jiji Press) — Monex Group Inc. will first focus on improving the internal control system of cryptocurrency exchange Coincheck Inc. after a planned acquisition, Oki Matsumoto, chairman and chief executive officer of the Japanese online brokerage, said in an interview on Thursday.

Monex plans to acquire Coincheck, which is struggling after losing a huge amount of customer funds in a hack in January, for ¥3.6 billion on Monday.

The company aims to bring Coincheck public in the future. But Matsumoto said, “At the very beginning, we’ll strengthen the internal control system.”

The theft of customer funds occurred partly because Coincheck rushed to do various things, Matsumoto said.

“Huge costs are necessary for strengthening Coincheck’s security systems and human resources,” he said, adding that Monex will provide support to the cryptocurrency exchange as its parent when necessary.Speech

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