Cryptocurrency Traders File a Lawsuit Against Coincheck – Ripple Continue Trading Positive

A group of cryptocurrency traders launched a lawsuit against Coincheck Inc on Thursday over last month’s heist of $530 million in digital money from the Tokyo-based exchange.

cryptocurrency investors filed a suit at the Tokyo District Court, also requesting that Coincheck pay annualized interest of 5 percent on the value of the digital coins from notification of the claim until it resumes withdrawals.

But it said it would keep curbs on withdrawals of cryptocurrencies until it could guarantee the secure resumption of its operations.

Coincheck, which froze all withdrawals of yen and digital money after the Jan. 26, 2018 heist, restarted on Tuesday yen withdrawals, unleashing a single-day outflow of $373 million.

“I’m hoping (Coincheck) will respond quickly and let us resume withdrawals,” one of the plaintiffs said at a press conference, speaking on condition of anonymity.

The Coincheck incident highlighted the risks in trading an asset that policymakers are struggling to regulate and has renewed the focus on Japan’s framework for overseeing these exchanges.

The Tokyo-based exchange, which froze all withdrawals of yen and digital currencies following the theft, resumed yen-withdrawals from Tuesday, according to posts on Twitter.

On the technical charts, RIPPLE is trading in the positive zone below the 200 day EMA. The market is trading above the 9 day, 20 day, 50 day and 100 day moving averages. The RSI is at 50.07 and the MACD is above the signal line.

Trade suggestion:

Buy stop at 1.13880, Take profit at 1.25388, Stop loss at 1.06060

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