This week the Bitcoin market stuck in around $9k just after reaching down to $7k less than a week ago. Back at the tail end of February, Bitcoin price in USDT hit above $11k, and promptly fell to 10, 9, and 7 over the next week. Now we’re seeing a bit of news that’ll likely lead to a new rally.On Tuesday morning, Coincheck Inc. suggested it’ll refund its users a whopping $435 million USD (converted from Yen) to those affected by the hack of their system this January. This exchange will happen soon – not immediately, but soon. Users found themselves out large amounts of NEM earlier this year due to a hack of Coincheck.
Now the company will refund users their NEM’s-worth in Yen. Each NEM lifted will be refunded at a rate of 88.549 yen (per coin.) It’s unlikely users will re-invest in coins via Coincheck, instead opting for services that did not get hacked at all this year – of course that leaves their options a bit thin.