Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 89

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 89
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 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.

Regarding NFTs, there are no clear legal regulations in Japan as of March 31, 2025 on custody of NFTs,

but according to our internal rules we hold NFTs acquired by customers of our Coincheck NFT Marketplace in hot

wallets on their behalf.

Crypto Assets Held (Borrowed from Customers or Deposited with Counterparties)

68

The following table shows the total amount of crypto assets held by us (meaning, mainly, borrowed from

customers or deposited with counterparties) as of March 31, 2022, September 30, 2022, March 31, 2023,

September 30, 2023, March 31, 2024, September 30, 2024, and March 31, 2025, broken down by what we hold in

cold wallets, hot wallets, and deposited with counterparties.

                                                                                               As of     
                                                                                                         
                                                                                               March     
                                                                                                         
                                                                                               31, 2025  
                                                                                               As of     
                                                                                                         
                                                                                               March     
                                                                                                         
                                                                                               31, 2025  
                                                                                               As of     
                                                                                               March     
                                                                                               31, 2025  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────
  Crypto assets held (current      34.1      16.4      19.0      19.3      44.2      35.6      44.7      
  Amount held in cold wallets      27.9      13.4      15.8      17.5      39.7      33.1      41.3      
  Amount held in hot wallets       3.9       1.9       2.0       1.6       3.6       2.2       3.0       
  Amount deposited with            2.3       1.1       1.1       0.3       0.8       0.4       0.4       

Insurance Coverage

As is customary in the Japanese crypto industry,