A Japanese cryptocurrency exchange Zaif, which was previously hacked for about $60 million, resumes operating on their services. Last year September 19, the hackers stole $60 million in BTC, BCH, and MONA with unauthorized access to the exchange’s cold wallets. The good thing is that the company had its own asset reserve of around $20 million. They made an agreement with a Japan investment company called Fisco to receive a $44.5 million investment in exchange for a large share of ownership.
Zaif Changes Owners
Based on the previously mentioned investment by Fisco, this Monday, April 22, Zaif officially signed over its business to Fisco. During all this time since the hack in September 2018, the exchange’s services (trading, depositing, withdrawing, and registering) weren’t operating. Now everything is back up and running. The new owners reinstated all services on Tuesday, April 23. However, while previously the company’s owners said that the investment from Fisco will be in exchange for a large share of the company, now it sounds like they are handing it over completely.
Refunds Users Lost Funds
As mentioned before, Zaif had an asset reserve of $20 million which they dedicated to refund its users. Fisco added their part of $44.5 million. The company explains that all the BTC and BCH holders have received their funds back. However, users who held MONA received only about 60% back in crypto. The rest of the compensation consisted of Japanese Yen at the rate of 144.548 yen per MONA.
Photo by Zaif.jp