Coincheck Owner Monex Warned Clients on New Scam “Monex Coin Management”

Tabassum Altcoin News PublishedJanuary 28, 2019 | ModifiedApril 2, 2019


Coincheck Owner Monex Warned Clients on New Scam “Monex Coin Management”

Monex Group Inc., the firm which has acquired Japanese hacked Coincheck is claiming that a firm with a similar name is targeting its clients. Consequently, the Monex Group has released a caution announcement, detailing its clients about the scam.

 Scammers Impersonating Monex Group

According to the statement released by the Monex Group Inc, a new crypto startup called ‘ Monex Coin Management’ (マネックスコインマネージメント) is representing itself as the affiliate of the Monex Group and therefore targeting its clients. In fact, the firm is seeking clients to use its ‘automated trading system’ which is more likely appears as it’s a service from Monex Group Inc. Following the attempt, Monex Group Inc. has released a caution notice on its official website, addressing its clients about fake representation’.

The announcement notes that the Group has no relation to the firm ‘Monex Coin Management’. With this, it advises clients ‘not to respond to such solicitations’.

To note, Monex Group Inc. acquired Coincheck during April 2018 and very recently obtained a green signal from FSA to restart the Crypto trading operation. The details of the Monex Group registration with Kanto Financial Bureau as Crypto exchange agency as per the Payment Service Act have already been reported by Coingape. It states;

With the registration as a cryptocurrency exchange agency serving as a milestone, Coincheck strives to continue offering reliable services for our current and prospective customers in a safe and stable manner. Coincheck is also committed to further strengthening security and enhancing usability.

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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]
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