Hacked Crypto Exchange Zaif Resuming Full Services Under New Owner

Bitcoin gold coins spread out on japanese yen

The Japanese cryptocurrency exchange Zaif that was hacked last year for about $60 million, is reportedly under new management. On Friday the exchange announced that as of April 22, the company will have signed over its business to publicly listed Japanese investment firm, Fisco. The exchange announced that full operations will be reinstated as of Tuesday, April 23.

Plans for the takeover were first announced in October 2018, the post made on Friday indicates the deal cost Fisco 5 billion Japanese Yen ($44.675 million). Zaif was hacked in September 2018 and had reportedly lost approximately 7 billion yen ($62.5 million) in bitcoin (BTC), monacoin (MONA) and bitcoin cash (BCH).

The exchange has now refunded the users that lost holdings in the breach. Zaif explained that holders of BTC and BCH were refunded in their original cryptocurrency, but, due to liquidity issues with the token, MONA holders received about 60 % in crypto and the remainder in Japanese Yen for compensation at a rate of 144.548 yen per MONA.