Japanese cryptocurrency exchange Zaif to resume business tomorrow following transfer from Tech Bureau to Fisco Digital Asset Group.

Japanese cryptocurrency exchange Zaif is scheduled to resume business tomorrow, following it’s transfer from Tech Bureau to Fisco Digital Asset Group today (FDAG).

The news comes seven months after a hack which saw approximately 6.7 billion yen ($59.8m) worth of bitcoin (BTC), bitcoin cash (BCH), and monacoin (MONA) stolen.

FDAG acquired the majority of Tech Bureau’s shares as part of a user compensation plan that saw it provide 5 billion yen (more than $44.6m) support.

Monacoin (Japan’s first cryptocurrency) users will be compensated for their losses with payments made up of 40% fiat currency and 60% cryptocurrency. MONA will be paid at a rate of 144.548 yen ($1.28).

AYO.NEWS says:

The past year has seen a slew of crypto exchange hacks, some worse than others, but despite the trauma and disruption, they have undoubtably served as a catalyst for security, organisational and regulatory progress. As in the high-profile hacking of the New Zealand-based crypto exchange Cryptopia (see CRYPTO EXCHANGE CRYPTOPIA SET TO REOPEN AFTER SERIOUS ATTACK), they have also been a wake-up call to law enforcement around the world, hopefully leading them to invest in the tech and skills appropriate to the world we find ourselves in.