Zaif Cryptocurrency Exchange Launched under New Management

Zaif Cryptocurrency Exchange Launched under New Management

Zaif cryptocurrency exchange which bore a $60 million loss, continues its activity with new management. According to a piece of news published by the official website of this Japanese company, this center has been delivered to Fisco enterprise and directed by the new management. Fisco enterprise owns most of its stocks with investing five billion Japanese yen (equal to $44 million) at Zaif exchange. Zaif was invaded by a cyber-attack, and in this attack, about 6.7 billion Japanese yen of different cryptocurrency types was robbed.

 According to the published explanations from this accident, Tech Bureau enterprise, Zaif’s former owner, noticed abnormal investment withdrawal and stopped any type of cryptocurrency trade in reaction to it and addressed evaluating that event. The results of the investigations show that the hacker was able to withdraw significant amounts of cryptocurrencies such as Bitcoin, Bitcoin Cash, and MonaCoin through illicit access to Zaif Hot Wallets. Monacoin is a Japanese cryptocurrency which was developed in 2013 based on popular personality Mona. This event is the second cyber-attack in Japan in 2018 after attacking Coincheck which targeted the industry of cryptocurrency in this country. Following this event, the Financial Service Agency (FSI) in Japan took action to evaluate the security state of cryptocurrency exchange centers in this country.

 Now after seven months of suspension of cryptocurrency trade services following the cyber-attack, Zaif exchange center is ready to give services with the new management. According to Zaif announcement, this center succeeded in remitting its users’ robbed assets. The amounts of Bitcoin and Bitcoin Cash have been deposited in the accounts of the users who had been robbed, while due to Monacoin liquidity problems, this center has paid just 60% of Monacoin users’ asset via this cryptocurrency and deposited the remainder in the users’ accounts in Japanese yen with the average rate of 144.548 yen per Monacoin. In November of this year, an expert from Japan Digital Design company announced that it had discovered some information about cyber-attack to Zaif exchange center. Although, the details of this information was not publicly published, according to what was announced by Zaif press conference, the details of this investigation were accommodated for the related authorities. According to this expert, transferring robbed Monacoin gave a cue of attack resource to the specialists.

 

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