According to local source Nikkei, two more Japanese cryptocurrency exchanges are shutting down in the wake of the Coincheck hack. Tokyo GateWay and Fukuoka-based Mr. Exchange are withdrawing their applications to register with Japan's Financial Services Agency as exchange operators. The FSA, Japan's highest financial regulatory body, on March 8 ordered both to improve their data security and other safeguards. The exchanges will be shutting down after returning their clients' cash and cryptocurrency holdings. This makes a total of 5 exchanges shutting down in the fallout of the $532 million hack of Coincheck in January. Raimu, bitExpress and Bit Station -- were the other exchanges that have withdrawn their applications to register. There are more expected to follow, as the FSA has given several exchanges a chance to voluntarily close before ordering them to do so.