Hacked Japanese Crypto Exchange Zaif Releases Financial Support Plan for Customer Assets

Hacked Japanese cryptocurrency exchange Zaif has announced an official plan to provide financial support for affected customers’ assets, in an official notice posted today, October 10.

Hacked Japanese cryptocurrency exchange Zaif has announced an official plan to provide financial support for affected customers’ assets, in an official notice posted today, October 10.

As previously reported, the exchange suffered a security breach Sept. 14, resulting in total losses of cryptocurrencies worth 6.7 billion yen (around $59.7 million).

At the time, Zaif operator Tech Bureau Inc. indicated it would be working with Fisco Digital Asset Group to draft a joint support plan.

Today’s notice clarifies that the terms of the basic agreement between the two firms have been in formal negotiation as of Sept. 20., and initially stipulated that Fisco would provide “financial support of 5 billion yen, enter a capital alliance enabling acquisition of a majority of the Company’s shares and allow for a majority of directors and the dispatch of an auditor.”

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