Japanese Bitcoin exchange CoinCheck has temporarily suspended a large proportion of customer withdrawals due to the Metropolitan Police Department freezing their main bank account.
The exchange currently utilises the services of three banks in Japan, but cited in a company announcement that their main bank ‘Rakuten bank’ held the lions share of customer funds.
It is not yet clear why the police have frozen the exchange’s bank account as they are waiting for an official response.
Bitcoin is currently trading at 1,348.89 CNY
CoinCheck launched in September 2014 and has ambitious plans to capture the Japanese Bitcoin scene.
Related posts:
FBI intercepts Manchester-based drug ring for selling £800k worth of drugs on the dark web
Cryptocurrencies try to draw Islamic investors
Bitstamp secures license with the Financial Markets Authority in France
Interview with Bitcoin Investor Roger Ver
Almonds on the Blockchain? Australian Commonwealth Bank blockchain collaboration shipped & tracked n...
Block Asset Management launches world’s first crypto fund of funds
Nexo signs partnership with UTRUST known as the 'Paypal of Crypto'
Ethereum ETN’s attract $10 million in assets after trading on Nasdaq