Tech Bureau in a recent announcementon yesterday said that it has signed an agreement with Fisco which is apublicallylistedinvestment companyin Japan – to transfer the business of Zaif to Fisco Crypto Exchange.This deed of partnership according to the parties is expected as an approach that would avoidadditionalrisks for Fisco and users on the platform.
Zaif,presentlyis one amongthesixteenauthorizedcrypto exchanges online in Japan,underwentan illicit hack recently in the month of Sept. on 20th in which around $60 Mlnpricedof crypto currencies gottaken away,together withnearly six thousand bitcoins.While othercompromised assetsenclosedBitcoinCashalong with the monacoin digital currency, as previously reported by EtherDesk.
Asa part ofthe business transfer deal,TechBureauaforesaid thatFisco would resume theclientscompensationprocess,which mightuse its own bitcoin and bitcoincashto refund userswho actuallylosttheir crypto assets. As per an announcementby Fisco,the corporatestartedoperatinga bitcoin exchange back from Aug. 2016.
Meanwhile, for thestolenmonacoin,TechBureauaforesaidFisco would pay back usersinJapanese yen at a rate of $1.28 USD, per unit.
Based on the announcement,the twonow currentlyexpect to hostshareownerconference meetingsinOct.before they execute the business transfer on 22ndNov.
Tech Bureauaforesaidafterwards thatit mightdissolve its crypto exchange business andget rid ofthe license registered with theFinancialServices Agency, Japan’sFinancialmarket regulator.
Asantecedently reported, rightafterthe hack,TechBureausignedaninitial agreement with Fisco that the latter wouldsupplyfivebillion yen, or $44.5 Mln, to support Zaif’s compensationplanandto amassa significantpossessionof the platform.However after negotiations,the two createdchanges to the initialset-upwith a business transfer approach.