Japanese cryptocurrency exchange Coincheck has increased its losses in the second quarter of the fiscal year (third calendar quarter), said the owner of the platform — Monex Group is in the published financial results.
Hacked in January by $540 million crypto currency exchange was acquired by a major Japanese online brokerage Monex Group in April. Since then, the company’s financial statements appeared to — cryptocurrency assets.
In the third quarter under this section Monex Group recorded operating income of 315 million yen ($2.81 million), but net losses totaled 588 million yen, or $5.24 million the group’s Consolidated profit in all markets for the quarter amounted to 549 million yen, or $4.89 million
In the second quarter of the year the losses Monex Group from the activities of the crypto currency exchange was almost two times less ($2,31 million). But operating income after deducting expenses and cost of sales totalled $8, 39 million — almost three times higher than a quarter later.
All Monex Group, after the acquisition of Coincheck for $33,4 million, has suffered from its activity loss of about $7.5 million, According to CoinMarketCap, the average daily trading volume on the platform is around $6 million According to the report of Monex, Coincheck has 1.7 million users.
As noted in the document Monex Group, limit the income Coincheck has led to the suspension of trading after hacking, as well as the costs of improving management, internal control and audit.
We will remind that the head of Monex Group Oki Matsumoto (Oki Matsumoto) after the purchase Coincheck has stated that cryptocurrency can “fly” as well as financial derivatives 38 years ago. Thus, in his opinion, the crypto currency exchange should be regulated by stricter banking regulations.