Hackers’ Attack on Zaif
Detection of the problem
It all started on Friday, September 14th when the Zaif’s team noted a huge payout from the cryptocurrency exchange platform. After that, they decided to suspend the possibility of making deposits and payouts from Zaif calling it technical problems. The next day, Wednesday 19th of September, the company published a statement in which they admitted that the platform had been hacked.
60 million dollar loss
As Zaif had an agreement with Fisco Digital Asset Group, Tech Bureau informed that the company will pay out about 44.5 million dollars. Unfortunately, this amount is still smaller by about 25% than the amount of stolen funds. As the agreement was mutually binding, Tech Bureau agreed to dismiss about half of the hired directors and inside auditors.
The remaining 25% will be covered by Zaif’s financial reserves which are about 20 million dollars. It will be used to make a refund to all the victims.
It’s not the first time when the cryptocurrency exchange platform Zaif has been in trouble. As we reported in February 2018, the platform experienced technical problems that allowed users to buy Bitcoin using yen for exactly 0 yen. It lasted only 18 minutes, but for 7 users it was enough to purchase this crypto.
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