Hacked Exchange Zaif Unveils Compensation Plan as Part of Takeover by Fisco

Zaif will start reimbursing its hack victims when technology group Fisco takes over the Japanese crypto exchange as part of an earlier deal with Tech Bureau. Zaif’s owner is expected to complete the transaction by the end of next month, according to a notice posted on Wednesday on Fisco’s website.

Zaif plans to refund users who had Monacoin (MONA) stolen by using Japanese fiat currency at a rate of 144.548 yen for one coin. It was equivalent to $1.29 as per the yen-US dollar rate at 09:43 UTC on Thursday, while Monacoin was changing hands at $1.15 at the same time. The platform ceased all MONA transactions on Wednesday.

“Public announcements will be made at a later date of the dates regarding the …

This article appeared first on Cryptovest

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