Monex Plans Coincheck Exchange Trading Services Reopen In July After Suffering $15 Million Hack

Monex Plans To Start Trading Services On Its US Exchange From July

Monex a Japanese based online brokerage firm has announced that it is going to start trading services on its US Cryptocurrency exchange from July. The exchange named TradeStation Crypto is planning to serve semi-professional traders and hopes to generate enough capital for its Monex Cryptocurrency Offerings.

The announcement of trading dates are for sure exciting, but the company suffered a loss of $15 million on various crypto services that it is involved with. The loss got even bigger because the Monex owned Coincheck suffered a significant loss in 2018. The company acquired Coincheck Exchange only last April. Monex did everything from restructuring the platform and made it fully regulated as well, but despite all the efforts Coincheck suffered a loss of $15.2 million for a period of one year.

The loss was even reflected on Monex total profit for 2018, which stood at $20 million, $20 million lesses than its 2017 figure of $440 million. 2018 was not an overall great year for the crypto space as it marked the period of the longest bearish trends, thus the loss could also be attributed to those factors. Monex also signaled changes could be afoot this month, with a plan to integrate crypto into its retail client offerings.

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