Cryptocurrency News, Market Analysis

Bitflayer Investigates Its Accounts For Crypto Price Manipulation while CoinCheck To Re-Launch Next Month.


Japan’s major exchange ‘Bitflyer’ has recently accounts to hold the accounts of its traders in suspect of manipulation of the crypto prices by its traders. As per company last official statement this is against its policies and currently till this is resolved after proper investigation new account registrations have been temporarily  closed. In the meantime, an another web hosting company ‘GMO Internet Inc.’ has launched quarterly earnings for its crypto change subsidiary, at the moment trying to borrow some BTC from prospects.


Trace Suspects in Market Manipulation

Bitflayer exchange in Japan has recently announced to temporarily hold news customers sign ups till this case is investigated and has currently delayed its deposits and withdrawals orders as per FSA’s further order. The change made this determination voluntarily after receiving a enterprise enhancement order from the higher monetary regulator ‘FSA.’ As per the company’s official statement announcement:

“In accordance with our Phrases of Use, we might freeze accounts noticed to have deliberately carried out market manipulation or different types of maliciously setting market costs. We’ll proceed to do our greatest to construct a sound buying and selling atmosphere.”

GMO Web To Borrow BTC.

The GMO Internet Inc. in Japan recorded operating revenue for its enterprise in the second quarter after making a loss within its first step due to a sudden drops in the crypto prices. The GMO further stated:

“In the virtual currency business, the number of account openings grew steadily due to aggressive promotion activities,Working income in this segment was 1,612 million yen [~US$14.5 million], working loss was 258 million yen [~$2.3 million].”

Meanwhile, the company is accepting applications from customers wanting to loan the company in their BTC. Interested Prospects may apply between July 24 and August 6 with minimum investment of 10 BTC to a maximum of 100 BTC.

CoinCheck Exchange to relaunch in August

CoincheckA bitcoin wallet and exchange service headquartered in Tokyo, Japan, founded by Koichiro Wada and Yusuke Otsuka was hacked in January this year with a loss of 259 million yen ( around 2.34 Mln’s , as per Today’s price). The crypto exchange now in partnership with Monex Group is thinking of a relaunch. As per a local media report by Monex Group’s president, Oki Matsumoto, said the relaunch of Coincheck crypto exchange in August this year through its US subsidiary, Tradestation Group. Stating further he stated:

I wish to restart full Coincheck service in August … The administration system of Coincheck has significantly improved with the doorway of Monex Group.”

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