Coincheck says frozen withdrawals were not caused by a hack but by an external service outage

AI-assisted source summary · not independently verified. Content standards

Coincheck said a failure in the third-party on-chain analytics service used to screen transactions led it to suspend all cryptocurrency deposits and cancel newly submitted and pending withdrawal requests, with no unauthorized access to customer assets involved. Incoming transfers remain delayed, and the funds from cancelled withdrawals will be returned to users’ account balances. Coincheck has not disclosed the service provider, so whether the outage was related to Chainalysis’s KYT being taken offline remains speculation.