Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 135

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 4
Chunk 135
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 from the segregated customer cold wallets. 
We maintain cold wallets and private key information for the custody of customer crypto assets at a secure 
storage facility we operate in Japan where access is strictly limited by multiple levels of security. Release of crypto 
assets we maintain from a cold wallet requires use of a private key on a computer that is stored in a fireproof safe in 
a dedicated cold wallet room in a building with a reinforced structure and modern earthquake-resistant features. 
Separate card key and PIN authorizations are needed to access the cold wallet room and opening of the fireproof 
safe. The private key in the computer is encrypted and requires a password for decryption. The decryption is 
performed by a tamper-proof program written to a DVD stored with the computer so that the private key stored in 
the computer is not directly displayed or disclosed to the person performing the authorization. These multiple 
safeguards are designed so that the participation of multiple trusted individuals is necessary for the release of crypto 
assets and no single individual is able to authorize release. Individuals entrusted with any role in the process are 
limited to senior management personnel of the Company with a tenure of longer than one year. As of March 31, 
2025, fewer than 10 members of management are authorized to participate in the release of the crypto assets, as per 
our internal practices, and although this number can be increased in line with updates to internal practices we 
continue to limit the members of management so authorized for enhanced security. With respect to our crypto assets 
which we hold in a hot wallet, release is made using an automated program with the private key stored securely with 
our cloud services provider. Transfers are limited to wallets instructed by our trading counterparties. Access to the 
private key’s secure storage is limited to the same type of personnel as those who have access to our cold wallet 
storage and is also designed to require the approval of multiple individuals for any change to the program settings.
All access is logged and reviewed on a periodic basis and our protocols and internal controls over access to 
customer crypto assets are subject to assessment as part of our internal and external audit processes. Our 
Accounting & Finance Department conducts procedures to compare assets recorded on the blockchain to our 
internal database in order to monitor for the accuracy of our records. We also provide our independent auditors with 
the addresses of our cold and hot wallets to enable them to verify the existence of cryptocurrencies in the course of 
their audit procedures. We do not use an external wallet custodian