Japan's Financial Services Agency on Feb. 2 raided the headquarters of Tokyo-based cryptocurrency exchange Coincheck Inc. following the US$530-million cryptocurrency theft in the week of Jan. 22, Agence France-Presse reported the same day.
Taro Aso, Japan's minister of finance, said the onsite inspection was launched to ensure preservation of clients' assets.
The theft saw hackers stealing 523 million units of cryptocurrency NEM, according to the report. Coincheck has said it will refund all the clients, numbering 260,000, at a rate of ¥88.549 per NEM coin, which will cost the company ¥46.3 billion.
The regulator's move came days after it issued an administrative order, directing Coincheck to submit a report on the incident and measures for preventing a recurrence by Feb. 13.
Japan's FSA started regulating cryptocurrency exchanges by virtue of a law that was passed following the hacking of MtGox in 2014. The law took effect in 2017.
As of Feb. 1, US$1 was equivalent to ¥109.45.
