Bitcoin Higher as Coincheck Exchange Promises Refund after Hack

Investing.com – The price of digital currency bitcoin along with major cryptocurrencies moved higher on Sunday after one of Japan’s largest digital currency exchanges said it will refund most of the $425 million worth of virtual assets lost in a .

was trading at $11,886 by 06:32 AM ET (11:32 AM GMT) on the Bitfinex exchange.

, the world’s second largest cryptocurrency by market cap, was last at $1,241.10 on the Bitfinex exchange.

Meanwhile, XRP token was trading at $1.26 on the Poloniex exchange.

Tokyo-based cryptocurrency exchange Coincheck said in a statement on Sunday that it would use its own funds to reimburse around 46 billion yen ($425m) that the company lost to hackers in an attack on Friday.

Coincheck said the amount it has promised to return covers nearly 90% of the coins lost in the attack.

The company suspended trading after detecting “unauthorized access” of its digital exchange. Around 260,000 customers were reported to be affected by the theft…

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