Japanese cryptocurrency exchange Zaif revealed details of how it will compensate customers for losses incurred as a result of a robbery, the platform last month, writes Coinspeaker.
We will remind, Zaif, managed Tech Bereau, was robbed on September 14 for $60 million once the exchange noticed an unusual outflow of funds, services, deposits and withdrawals have been suspended. However, the attackers managed to steal a significant amount of assets, including 6000 bitcoins. Also from the stock exchange was withdrawn Cash of Bitcoin and Monacoin.
After a few weeks of Tech Bureau finally introduced a compensation plan. It became known that the operator of the trading platform has signed an agreement with Japanese investment company Fisco.
Earlier Fisco Digital Asset Group have expressed their intention to invest in Tech Bureau major funds. It was planned that Fisco will provide financial support in the amount of 5 billion yen, by purchasing the lion’s share of the company’s shares. She had to get a majority of seats in the Board of Directors and to hire an auditor.
Now the terms have changed. Under the new agreement, Tech Bereau Zaif completely will pass under control of Fisco. The parties state that such a move will allow them to avoid potential risks.
Tech Bureau intends to abandon the cryptocurrency business and ask the Japanese financial services Agency to revoke a license.
It is expected that the company will hold a General meeting of shareholders on 19 November, and 22 November, the transaction will be completed. Then Fisco will start the process of compensation of losses. Since the Corporation manages its own bitcoin exchange from August 2016, for damages to customers Zaif it uses its reserves of bitcoins and Bitcoin Cash. Payments will be made 60% in fans and 40% in Fiat.
The former owners of the stolen tokens Monacoin will receive compensation in Japanese yen. Note that from 10 October operations Monacoin on Zaif no longer maintained.