LOGO_CRYPTO_SIGHT

Hacked Japanese Crypto Exchange Zaif Reopened After 7 Months

| 26-Th4-2019

Japanese cryptocurrency exchange Zaif resumed activity after seven months of inactive due to being hacked in September last year.

Zaif announced that the shift from Tech Bureau to Fisco Digital Asset Group (FDAG) has been operative since April 22, and right after that, all activities came back to the normal route.

Last September, the firm was hacked, resulted in the total losses of cryptocurrencies worth 6.7 billion yen (around $59.8 million) in Bitcoin (BTC), bitcoin cash (BCH), and monacoin (MONA).

As part of the acquisition, which is also a part of the user compensation plan, FDAG offered 5 billion yen (over $44.6 million) for financial support to Tech Bureau in exchange for a majority of the company’s shares.

In October 2018, Monacoin’s owners who fell victim to the hack were confirmed to get compensation of 40% in fiat currency and 60% in crypto, after the sale of the firm. The compensation has been enabled to withdraw since April 23, with a rate of 144.548 yen ($1.28) per MONA.

Earlier this year, in March, an 18-year-old hacker was referred to a prosecuting attorney about stealing 15 million yen (over $134,000) of cryptocurrency, after illegally breaching Monappy, a cryptocurrency wallet available to download on smartphones.

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