Japanese cryptocurrency exchange Coincheck has announced its plans to compensate the victims of the January hack in which the exchange lost nearly $530 million in NEM tokens.

In a detailed blog post on the events that transpired and Coincheck’s efforts to strengthen the security of its platform, the company said that it will compensate the hack victims, starting next week.

“We will implement compensation for customers who held illegally remitted NEM, by the end of next week. For details, we will notify you at any time from our corporate website etc.” Coincheck said.

Recently, Blockchain Intelligence Group (BIG) said that its investigations into the Coincheck hack found that the proceeds were being laundered through a Vancouver-based exchange.

In its efforts to strengthen its risk management system, Coincheck listed a number of measures including appointment of a system security officer, establishing a system risk committee, and strengthening internal audit and other management systems.

The company said it is currently working towards restarting its services. To that end, it said that it is restructure its internal network, as well as redesigning and restructuring the server. It is also strengthening in-house monitoring systems.

“We will continue to do our utmost to restart the paused service, we will continue our efforts to register the virtual currency exchange trader to the Financial Services Agency, and continue our business,” Coincheck said.