RATE Group | ZAIF Cryptocurrency Exchange Hack: Victims Yet to Be Compensated.
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ZAIF Cryptocurrency Exchange Hack: Victims Yet to Be Compensated.

06 Oct ZAIF Cryptocurrency Exchange Hack: Victims Yet to Be Compensated.

Posted at 09:16h in Cryptocurrency News by

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ZAIF, an Osaka-based cryptocurrency exchange that was hacked last month has yet to compensate the affected customers. ZAIF cryptocurrency exchange lost over 6.7 billion Yen during the breach, 4.5 billion of which were from customer accounts.

Delayed Compensation to Victims of the Zaif Hack

Following the September 14 security breach of the exchange’s hot wallets, Tech Bureau (operators of the platform) announced plans to compensate victims of the hack from funds realized from the sale of a large portion of the platform to Fisco Digital Asset Group.

According to the announcement, the deal with Fisco would fetch the exchange enough funds to compensate its customers that lost cryptocurrencies to the tune of 4.5 billion Yen.

However, on Monday Tech Bureau put out a statement that it is yet to conclude the sales agreement with Fisco.

An excerpt of the announcement:

We have concluded a basic agreement to begin examination aiming for a formal agreement on financial support through a…

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