Roundup 08/10/2018 – Zaif delays $60mn hack compensation & more

Zaif delays customer reimbursement for $60mn hack

The management of the Japanese exchange Zaif announced that compensation plans will delay for Zaif. The exchange was hacked mid-September. Zaif’s servers noted an unauthorized access on 14th September. The exchange announced a week later that about $60 million USD in BTC, BCH and MONA were lost. Zaif was counting on assistance from its subsidiary Fisco Ltd. from beginning on and now the company agreed to buy the exchange for $44 million USD. However, the exact details of the deal are still being negotiated and bureaucratic restrictions further complicate the deal. Therefore, the management had to publically announce that reimbursement is going to delay.

Venezuela starts requiring its citizens to pay with Petro

As cited by Coin Telegraph, the government of Venezuela has implemented a new legislation that requires all people applying for the country’s passport to pay the fees using petro. The government made the announcement last Friday. Petro’s official Rodriguez confirmed the news and assured the public that the digital currency was secure. He also went ahead to state that the cost for a new passport would be 2 Petro. Citizens who want to extend the validity of their passport will have to pay one Petro.

Seoul invests $120mn in construction of blockchain district

According to a local report, South Korea is planning to create a blockchain district in Seoul. The city administration already raised a fund of 60.3 billion Won ($53 million USD) to create two business complexes. Simultaneously the city wants to raise another fund of 100 billion Won ($88 million USD) to support startups in the district. Seoul’s Mayor Park Won-soon outlines this as a 4-year project. He estimates that the construction of the business complex finishes by 2021. However, the funding will continue until 2022.