Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 111

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 4
Chunk 111
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Item 4.Information on the Company
A.History and Development of the Company
Prior to April 2018 Acquisition by Monex
The Coincheck-branded business was initially launched in 2012 by ResuPress K.K., which in 2017 changed 
its corporate name to Coincheck, Inc. In January 2018, Coincheck’s NEM hot wallet was hacked and it lost 
526.3 million NEM, or ¥46.6 billion, of customer funds. Although Coincheck compensated customers who were 
adversely affected by the cybersecurity incident, it became subject to lawsuits relating to the calculation of the 
compensation provided (all of these lawsuits have been resolved). In addition, the JFSA required Coincheck to 
suspend its operations and Coincheck became available for sale.
Acquisition by Monex and Steps Taken to Improve Governance and Risk Management
In April 2018, Coincheck was acquired by Monex for ¥3.6 billion. After the acquisition, Monex worked 
closely with the JFSA to implement heightened security measures and better corporate governance. As part of these 
initiatives, Monex engaged a financial cybersecurity consulting firm to conduct a holistic review of Coincheck’s 
processes and system architecture to further improve the security of Coincheck’s cryptocurrency exchange. Under 
Monex’s control, four new directors and three corporate auditors were appointed, as well as seven executive 
officers. These appointments helped to strengthen the supervisory function of Coincheck’s board of directors and to 
improve the independence of audits through the expertise of outside members. Improvements were also made 
regarding the management of segregated customer assets through ongoing monitoring and monthly compliance 
reports and discussions at compliance committee meetings attended by external law firms and Coincheck’s new full-
time audit and supervisory board members.
Under Monex’s new leadership, Coincheck also improved its risk management policies pursuant to which a 
risk committee monitors on a monthly basis the state of development and operation of Coincheck’s risk management 
system as a whole, including by monitoring and confirming cryptocurrency positions on a daily basis, monitoring 
credit risk by verifying positions held against a limit amount determined with respect to each cover counterparty, 
and monitoring liquidity risk by confirming the supply of each crypto asset and the corresponding number of 
transactions on a daily basis.
Coincheck also joined with the 16 domestic cryptocurrency exchanges in operation in Japan as of 
March 2018 to form the JVCEA in order to strengthen