Japan based renowned Zaif cryptocurrency exchange has ‘revealed‘ that the transfer of the business from Tech Bureau to FDAG [Fisco Digital Asset Group] would come into effect as from 22nd April, as well as the standard activities are expected to ‘resume‘ from the next day.
Within the recent Zaif exchange ‘hack‘ that occurred earlier in ‘Sept.‘ last year. Zaif exchange majorly lost Bitcoin [BTC], Bitcoin Cash [BCH] and Monacoin [MONA], leading to total losses of cryptocurrencies priced around 6.7 billion yen [about $59.8 Mln]. With the acquisition, along with a part of the user compensation plan, FDAG offered financial backing of around 5 Bln yen [around $44.6 Mln] to Tech Bureau, thereby acquiring a majority of the company’s shares.
As ‘reported‘ earlier in the month of October last year, the sale of the Zaif exchange is a part of the plan to compensate the users who lost Monacoin [MONA] within the hack after the sale of the business. The users are going to be repaid 40% in standard fiat currency while the remaining 60% in respective cryptocurrencies. The rate of compensation will be around 144.548 yen [$1.28] per MONA which can become available for withdrawals on 23rd April.
Earlier in March, an 18-year-old hacker was ‘presented‘ to the Japanese prosecutors for stealing cryptocurrency after allegedly breaching Monappy, a crypto wallet that can be installed onto a smartphone, and stealing around 15 Mln yen [about $134,000] of cryptocurrency.