Cryptocurrencies fall after Japan’s Coincheck suspends trading ..

[Goldlife]

Tokyo: Cryptocurrencies fell Friday after Japan-based digital exchange Coincheck suspended client deposits and withdrawals for virtual currencies except bitcoin.

NEM, the 10th biggest cryptocurrency by market capitalisation, plunged more than 16% in the past 24 hours, according to CoinMarketCap.com. Bitcoin was down 4.75% to $10,748.20, ripple slid nearly 9% and ethereum was 2.35% lower.

We have suspended the deposit, withdrawal, buying and selling of NEM. We’re sorry for causing you great inconvenience and making you worry," Coincheck said in a series of tweets announcing it had suspended trading for all cryptocurrencies apart from bitcoin.

“Currently we’re suspending the buying and selling of altcoin (alternative currencies) except for BTC (bitcoin). We’re sorry to cause you great inconvenience. Thank you for your understanding," it said in another tweet.

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Cryptocurrencies fall after Japan’s Coincheck suspends trading

Coincheck did not elaborate on what had prompted it to suspend trading but said it was preparing an announcement. Photo: AFP
1 min read . 26 Jan 2018
AFP
Coincheck said in a series of tweets that it had suspended trading for all cryptocurrencies apart from bitcoin

Tokyo: Cryptocurrencies fell Friday after Japan-based digital exchange Coincheck suspended client deposits and withdrawals for virtual currencies except bitcoin.

NEM, the 10th biggest cryptocurrency by market capitalisation, plunged more than 16% in the past 24 hours, according to CoinMarketCap.com. Bitcoin was down 4.75% to $10,748.20, ripple slid nearly 9% and ethereum was 2.35% lower.


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“We have suspended the deposit, withdrawal, buying and selling of NEM. We’re sorry for causing you great inconvenience and making you worry," Coincheck said in a series of tweets announcing it had suspended trading for all cryptocurrencies apart from bitcoin.

“Currently we’re suspending the buying and selling of altcoin (alternative currencies) except for BTC (bitcoin). We’re sorry to cause you great inconvenience. Thank you for your understanding," it said in another tweet.


Coincheck did not elaborate on what had prompted it to suspend trading but said it was preparing an announcement.

According to its website, which proclaims it is “the leading bitcoin and cryptocurrency exchange in Asia", Tokyo-based Coincheck was founded in 2012 and had 71 employees as of July last year.

In 2014 major Tokyo-based bitcoin exchange MtGox collapsed after admitting that 850,000 coins—worth around $480 million at the time—had disappeared from its vaults.

Bitcoin is recognized as legal tender in Japan and nearly one third of global bitcoin transactions in December were denominated in yen, according to specialist website jpbitcoin.com.


More info: https://www.livemint.com/Money/DPCITfU3brGB62DkjK5Z2H/Cryptocurrencies-fall-after-Japans-Coincheck-suspends-tradi.html?facet=amp

[zilzylian]

Hi buddy, looks like you need to improve your post, I saw some posts that you do not need to copy from the article.

Punjab imposes night curfew till 30 April amid Covid-19 spike. Details here
1 min read . 02:06 PM IST

By the way today all altcoin prices went down, Bitcoin went through the same thing, I think withdrawals were suspended on that exchange due to some security issues.